- The document analyzes the EUR/USD, WTI Crude, and Hong Kong Index, providing charts and discussing recent price movements and technical indicators for each.
- For EUR/USD, it recommends a short position with a target of 1.055-1.06 and stop loss at 1.105, noting weakness from the US FED rate hike.
- For WTI Crude, it recommends a short position with a target of 33 and stop loss at 35.95, citing oversupply concerns and bearish technical signals.
- For the Hong Kong Index, it recommends a short position with a target of 20,100 and stop loss at 22,245, seeing the index heading
The document provides a technical analysis of currency movements for USDINR, EURINR, GBPINR, and JPYINR. For USDINR, prices consolidated gains and support was found at the 200 period EMA on an hourly timeframe, suggesting further gains. For EURINR, prices closed flat after failing to sustain higher levels. GBPINR declined after taking resistance at a 61.8% retracement level. JPYINR closed near daily lows with support at 52.30 at risk of breakdown. Economic indicators are provided for each currency.
The document discusses the short-term technical outlook for gold (XAU/USD). It notes that gold edged lower on Thursday due to a stronger US dollar, but lacked strong follow-through selling. Technically, gold has formed a downward sloping channel on the 1-hour chart, which is categorized as a bullish continuation flag pattern. However, indicators have not confirmed a bullish bias yet. A sustained break above the channel resistance near $1,795 could lead to further gold price appreciation.
The document discusses monetary policy in India. It begins by defining monetary policy as the government's policy to control the quantity, cost, and use of money in the country. It notes that the first monetary policy committee in India was established in 1982 under Professor Sukhamoy Chakraborty to promote price stability and economic growth. The major tools of India's monetary policy are described as quantitative tools that impact the economy, qualitative tools related to specific sectors, and other methods like the bank rate, repo rate, reverse repo rate, and marginal standing facility rate which the Reserve Bank of India uses to control money supply and inflation.
Central banks hold foreign exchange reserves in different currencies to maintain the external value of their domestic currency and reduce the impact of economic problems. Foreign exchange reserves became popular after the decline of the gold standard as countries used them through central banks to stabilize exchange rates. Central banks can impact foreign exchange reserves through currency issuance, import/export restrictions, currency value fluctuations, and transferring reserves without affecting domestic currency value. The top foreign exchange reserve holdings are in US dollars, pounds, yen, francs, Canadian dollars, Australian dollars, and euros. Foreign exchange reserves boost confidence, help overcome economic crises, aid currency market control and stabilization, and indicate debt repayment ability and credit ratings. As of now, Pakistan holds $8.4
India has transitioned through different exchange rate systems over time. Originally under a fixed exchange rate system tied to the British pound sterling from 1947-1971, India then adopted a pegged exchange rate system from 1971-1992 where the rupee was linked first to the pound sterling and later a basket of currencies. India faced a balance of payments crisis in 1991 which led it to adopt a market-determined floating exchange rate system starting in 1992 called the Liberalized Exchange Rate Management System. Under this hybrid system the rupee became partially convertible and exchange rates were determined by market forces. India has since moved towards full capital account convertibility.
This document provides an overview of monetary policy, including its aims, objectives, major players, types, and the instruments used. It discusses that monetary policy aims to influence economic activity through managing money supply and interest rates. The Reserve Bank of India publishes an annual monetary policy statement that reviews the state of the economy and announces monetary measures such as changes to the repo rate, cash reserve ratio, and other indicators. The goal is to achieve price stability while promoting economic growth.
Average Maturity, the playing factor for Mutual FundAmar Ranu
The document discusses how the 2008 global financial crisis impacted India's bond market and mutual funds that invest in debt. As crude oil prices rose and equity markets fell, inflation in India increased to double digits, forcing the central bank to raise interest rates. This caused yields on government securities and debt instruments to rise. As a result, the average maturity of debt components in mutual funds like income funds and monthly income plans declined significantly from early 2008 to mid-2008, as fund managers reduced maturity to limit losses from rising yields.
The document discusses the outlook for gold prices (XAU/USD). It notes that gold is currently trading in a range below $1,800 and looks sidelined. A break below $1,785 could trigger further declines towards $1,750, while a move above $1,800 resistance at $1,808 could prompt short-covering and a rise to $1,832. The document also previews upcoming US inflation and retail sales data that could impact expectations for the Fed's policy meeting and influence gold prices.
The document provides a technical analysis of currency movements for USDINR, EURINR, GBPINR, and JPYINR. For USDINR, prices consolidated gains and support was found at the 200 period EMA on an hourly timeframe, suggesting further gains. For EURINR, prices closed flat after failing to sustain higher levels. GBPINR declined after taking resistance at a 61.8% retracement level. JPYINR closed near daily lows with support at 52.30 at risk of breakdown. Economic indicators are provided for each currency.
The document discusses the short-term technical outlook for gold (XAU/USD). It notes that gold edged lower on Thursday due to a stronger US dollar, but lacked strong follow-through selling. Technically, gold has formed a downward sloping channel on the 1-hour chart, which is categorized as a bullish continuation flag pattern. However, indicators have not confirmed a bullish bias yet. A sustained break above the channel resistance near $1,795 could lead to further gold price appreciation.
The document discusses monetary policy in India. It begins by defining monetary policy as the government's policy to control the quantity, cost, and use of money in the country. It notes that the first monetary policy committee in India was established in 1982 under Professor Sukhamoy Chakraborty to promote price stability and economic growth. The major tools of India's monetary policy are described as quantitative tools that impact the economy, qualitative tools related to specific sectors, and other methods like the bank rate, repo rate, reverse repo rate, and marginal standing facility rate which the Reserve Bank of India uses to control money supply and inflation.
Central banks hold foreign exchange reserves in different currencies to maintain the external value of their domestic currency and reduce the impact of economic problems. Foreign exchange reserves became popular after the decline of the gold standard as countries used them through central banks to stabilize exchange rates. Central banks can impact foreign exchange reserves through currency issuance, import/export restrictions, currency value fluctuations, and transferring reserves without affecting domestic currency value. The top foreign exchange reserve holdings are in US dollars, pounds, yen, francs, Canadian dollars, Australian dollars, and euros. Foreign exchange reserves boost confidence, help overcome economic crises, aid currency market control and stabilization, and indicate debt repayment ability and credit ratings. As of now, Pakistan holds $8.4
India has transitioned through different exchange rate systems over time. Originally under a fixed exchange rate system tied to the British pound sterling from 1947-1971, India then adopted a pegged exchange rate system from 1971-1992 where the rupee was linked first to the pound sterling and later a basket of currencies. India faced a balance of payments crisis in 1991 which led it to adopt a market-determined floating exchange rate system starting in 1992 called the Liberalized Exchange Rate Management System. Under this hybrid system the rupee became partially convertible and exchange rates were determined by market forces. India has since moved towards full capital account convertibility.
This document provides an overview of monetary policy, including its aims, objectives, major players, types, and the instruments used. It discusses that monetary policy aims to influence economic activity through managing money supply and interest rates. The Reserve Bank of India publishes an annual monetary policy statement that reviews the state of the economy and announces monetary measures such as changes to the repo rate, cash reserve ratio, and other indicators. The goal is to achieve price stability while promoting economic growth.
Average Maturity, the playing factor for Mutual FundAmar Ranu
The document discusses how the 2008 global financial crisis impacted India's bond market and mutual funds that invest in debt. As crude oil prices rose and equity markets fell, inflation in India increased to double digits, forcing the central bank to raise interest rates. This caused yields on government securities and debt instruments to rise. As a result, the average maturity of debt components in mutual funds like income funds and monthly income plans declined significantly from early 2008 to mid-2008, as fund managers reduced maturity to limit losses from rising yields.
The document discusses the outlook for gold prices (XAU/USD). It notes that gold is currently trading in a range below $1,800 and looks sidelined. A break below $1,785 could trigger further declines towards $1,750, while a move above $1,800 resistance at $1,808 could prompt short-covering and a rise to $1,832. The document also previews upcoming US inflation and retail sales data that could impact expectations for the Fed's policy meeting and influence gold prices.
Derrick Mwesigwa is a Ugandan student completing his bachelor's degree in Procurement and Logistics management from Uganda Christian University in March 2016. He has experience working in procurement and disposal at Jinja District Local Government. Mwesigwa is computer literate and aims to use his skills and knowledge to benefit an organization by working as part of a team to achieve its vision.
El documento proporciona información sobre el Carnaval de Ambato en Ecuador. Brevemente describe la historia del Carnaval, cómo se celebra tradicionalmente en Ecuador con agua, talco y pinturas vegetales, y destaca a Guaranda como un lugar importante para estas celebraciones. También resume las comidas típicas del Carnaval en diferentes regiones de Ecuador, así como las características y eventos más relevantes del Carnaval de Ambato, incluyendo desfiles, ferias, corridas de toros y actos religiosos.
Graphic Recording of Nazli Berivan Ak's session on Marketing Books at ADIBF2015Pro.
The session was part of ADIBF Academy Certificate Mena Expert Publisher 2015.
Leslie Grey has over 15 years of experience in financial services, customer service, and childcare. She has held positions in accounts receivable, financial advising, and sales. Currently, she is seeking a position in financial project management where she can utilize her skills in customer service, problem solving, and team leadership.
DataSabre is a new software application that allows users to securely record and organize microbial water test results and track remedial actions for demonstrable compliance with regulations. It provides a central repository for all testing records, allows users to assign and schedule multiple tests to assets, filter and compare results, and trigger alerts. The software also includes dashboards and reports to demonstrate compliance and is designed for easy use with UK-based support.
2BHK & 3BHK Apartments for sale off Mysore Road, Bangalore at Temple Bells
2BHK Apartments in Bangalore
Site at Bangalore
Villa Houses in Bangalore
Apartments for sale at Electronic city
ForMore:http://bangalore5projects.blogspot.in/2016/01/2bhk-3bhk-apartments-for-sale-off.html
Приведенные авторские избранные анаграммы и соответствующие числовые ребусы с содержательными иллюстрациями по информатике могут служить основой для создания аналогичных авторских анаграмм- ребусов и проверки решений с помощью программы «Калькулятор ребусов» и «Энциклопедии вербальной информатики», размещенных в Интернет.
Для педагогов и пользователей, решающих практические задачи по развитию компетенций в сфере информатики и в смежных областях.
DeVry University President Rob Paul Donna wrote a letter to Provost Loraine regarding Joseph Laguerre in Fall 2014. The letter likely concerned university matters as Loraine's title is Provost/Vice President of Academic Affairs. Few details are provided in the short document.
DeVry University President Rob Paul and Chief Academic Officer Donna M. Loraine, PhD wrote a letter in Summer 2015 addressed to Joseph Laguerre. The letter likely concerned university matters as Paul and Loraine held leadership roles at DeVry University and Joseph Laguerre was the recipient of the correspondence from them.
- The EUR/USD pair fell further as the US Federal Reserve raised interest rates for the first time since 2006, strengthening the US dollar. However, future rate hikes are uncertain.
- Oil prices continued to decline as OPEC will not cut supply and US inventories rose unexpectedly. Weak global demand and a supply glut point to further weakness.
- The Hong Kong stock index is poised to fall further in the near term based on bearish technical signals on daily and weekly charts, with support at 20,100.
The document discusses recent changes by the SEC that will allow money market funds to let their share prices float below $1 and to block withdrawals during times of crisis. It also summarizes market performance for stocks, gold, oil and the US dollar for the week. The S&P 500, Nasdaq and Russell 2000 fell while gold rose. Crude oil closed near recent levels and the US dollar index strengthened significantly.
The document provides a technical analysis of currency movements and economic indicators for the USDINR, EURINR, GBPINR, and JPYINR currency pairs. For each pair, it examines the price pattern, moving averages, momentum indicators, and concludes with a price forecast. It also includes a table of key economic data releases and their expected impact on the USD.
The document provides an overview and analysis of recent market movements in response to the Swiss National Bank allowing the Swiss franc to float freely. It discusses the rally in the franc and fallout for some firms. It also analyzes price movements and indicators for the S&P 500, NASDAQ 100, Russell 2000, crude oil, gold, and US Dollar Index from the prior week. Recommendations are given to remain alert and watch for effects of Swiss franc funds moving into US and European markets.
The document provides a technical analysis of several currency pairs including USDINR, EURINR, GBPINR, and JPYINR against the Indian Rupee for the period of 24th November 2014. It finds that USDINR and EURINR are in short-term downtrends based on price patterns, moving averages, and other indicators. GBPINR is also resuming its major downtrend following the movement of related currency pairs. JPYINR continues its strong downtrend and is consolidating in a range. Economic indicators from Germany are also included that could impact the EUR.
The document provides an economic calendar and analysis of currency pairs and gold. The economic calendar lists upcoming data releases including durable goods orders, pending home sales, and manufacturing indexes. Analysis is given for AUD/USD, NZD/USD, EUR/USD, GBP/USD, USD/JPY, USD/CAD, USD/CHF and gold. Most currency pairs are seen as bearish or neutral except for USD/JPY and USD/CAD which are bullish. Strategies are suggested based on technical indicators and recent price action.
Derrick Mwesigwa is a Ugandan student completing his bachelor's degree in Procurement and Logistics management from Uganda Christian University in March 2016. He has experience working in procurement and disposal at Jinja District Local Government. Mwesigwa is computer literate and aims to use his skills and knowledge to benefit an organization by working as part of a team to achieve its vision.
El documento proporciona información sobre el Carnaval de Ambato en Ecuador. Brevemente describe la historia del Carnaval, cómo se celebra tradicionalmente en Ecuador con agua, talco y pinturas vegetales, y destaca a Guaranda como un lugar importante para estas celebraciones. También resume las comidas típicas del Carnaval en diferentes regiones de Ecuador, así como las características y eventos más relevantes del Carnaval de Ambato, incluyendo desfiles, ferias, corridas de toros y actos religiosos.
Graphic Recording of Nazli Berivan Ak's session on Marketing Books at ADIBF2015Pro.
The session was part of ADIBF Academy Certificate Mena Expert Publisher 2015.
Leslie Grey has over 15 years of experience in financial services, customer service, and childcare. She has held positions in accounts receivable, financial advising, and sales. Currently, she is seeking a position in financial project management where she can utilize her skills in customer service, problem solving, and team leadership.
DataSabre is a new software application that allows users to securely record and organize microbial water test results and track remedial actions for demonstrable compliance with regulations. It provides a central repository for all testing records, allows users to assign and schedule multiple tests to assets, filter and compare results, and trigger alerts. The software also includes dashboards and reports to demonstrate compliance and is designed for easy use with UK-based support.
2BHK & 3BHK Apartments for sale off Mysore Road, Bangalore at Temple Bells
2BHK Apartments in Bangalore
Site at Bangalore
Villa Houses in Bangalore
Apartments for sale at Electronic city
ForMore:http://bangalore5projects.blogspot.in/2016/01/2bhk-3bhk-apartments-for-sale-off.html
Приведенные авторские избранные анаграммы и соответствующие числовые ребусы с содержательными иллюстрациями по информатике могут служить основой для создания аналогичных авторских анаграмм- ребусов и проверки решений с помощью программы «Калькулятор ребусов» и «Энциклопедии вербальной информатики», размещенных в Интернет.
Для педагогов и пользователей, решающих практические задачи по развитию компетенций в сфере информатики и в смежных областях.
DeVry University President Rob Paul Donna wrote a letter to Provost Loraine regarding Joseph Laguerre in Fall 2014. The letter likely concerned university matters as Loraine's title is Provost/Vice President of Academic Affairs. Few details are provided in the short document.
DeVry University President Rob Paul and Chief Academic Officer Donna M. Loraine, PhD wrote a letter in Summer 2015 addressed to Joseph Laguerre. The letter likely concerned university matters as Paul and Loraine held leadership roles at DeVry University and Joseph Laguerre was the recipient of the correspondence from them.
- The EUR/USD pair fell further as the US Federal Reserve raised interest rates for the first time since 2006, strengthening the US dollar. However, future rate hikes are uncertain.
- Oil prices continued to decline as OPEC will not cut supply and US inventories rose unexpectedly. Weak global demand and a supply glut point to further weakness.
- The Hong Kong stock index is poised to fall further in the near term based on bearish technical signals on daily and weekly charts, with support at 20,100.
The document discusses recent changes by the SEC that will allow money market funds to let their share prices float below $1 and to block withdrawals during times of crisis. It also summarizes market performance for stocks, gold, oil and the US dollar for the week. The S&P 500, Nasdaq and Russell 2000 fell while gold rose. Crude oil closed near recent levels and the US dollar index strengthened significantly.
The document provides a technical analysis of currency movements and economic indicators for the USDINR, EURINR, GBPINR, and JPYINR currency pairs. For each pair, it examines the price pattern, moving averages, momentum indicators, and concludes with a price forecast. It also includes a table of key economic data releases and their expected impact on the USD.
The document provides an overview and analysis of recent market movements in response to the Swiss National Bank allowing the Swiss franc to float freely. It discusses the rally in the franc and fallout for some firms. It also analyzes price movements and indicators for the S&P 500, NASDAQ 100, Russell 2000, crude oil, gold, and US Dollar Index from the prior week. Recommendations are given to remain alert and watch for effects of Swiss franc funds moving into US and European markets.
The document provides a technical analysis of several currency pairs including USDINR, EURINR, GBPINR, and JPYINR against the Indian Rupee for the period of 24th November 2014. It finds that USDINR and EURINR are in short-term downtrends based on price patterns, moving averages, and other indicators. GBPINR is also resuming its major downtrend following the movement of related currency pairs. JPYINR continues its strong downtrend and is consolidating in a range. Economic indicators from Germany are also included that could impact the EUR.
The document provides an economic calendar and analysis of currency pairs and gold. The economic calendar lists upcoming data releases including durable goods orders, pending home sales, and manufacturing indexes. Analysis is given for AUD/USD, NZD/USD, EUR/USD, GBP/USD, USD/JPY, USD/CAD, USD/CHF and gold. Most currency pairs are seen as bearish or neutral except for USD/JPY and USD/CAD which are bullish. Strategies are suggested based on technical indicators and recent price action.
The document provides a technical analysis of the QE Index and key Qatari stocks to consider, offering the following assessments:
1) The QE Index bounced back after losses, and may test resistance at 13,700, while finding support at 13,500-13,450.
2) Qatar Islamic Bank is in a short-term pullback, likely weakening further to QR115 support.
3) The Al Rayan Islamic Index snapped a three-day losing streak but traders are advised to wait for confirmation of renewed gains above 4,708 resistance.
4) Al Meera Consumer Goods is also in a short-term pullback and may continue lower to QR185 support.
The daily analysis report from TP Global FX provides technical analysis and commentary on major currency pairs. On the Asian markets open, the Japanese yen weakened sharply after comments from the Bank of Japan governor supporting a weaker currency. Chinese economic data came in mixed with GDP growth below forecasts but unemployment improving. Most central banks will be closed for Easter Monday. Technical analysis of major currency pairs showed down trends for AUD/USD, EUR/USD and GBP/USD but up trends for USD/CAD, USD/JPY and gold. Key resistance and support levels were identified on hourly charts.
The document provides a technical analysis of the QE Index and key Qatari stocks to consider. It analyzes several stocks and indexes, including the QE Index, Milaha, Al Rayan Islamic Index, Ooredoo, Gulf International Services, and Barwa Real Estate Co. For each one, it provides the short-term outlook, noting whether it expects a bounce back, upmove, pullback, or rebound in the near future. It also lists important price levels to watch.
- The domestic stock markets in India witnessed moderate losses and closed near the daily lows, as selling pressure increased in the last hour of trading. Key sectors like banking, auto, and metals declined.
- Technically, the market breadth was negative with lower trading volumes, and most technical indicators pointed to further downside pressure. The markets are expected to see further declines and could test support at 4,353 in the near future.
- Short term trading ideas based on technical analysis recommend selling specific stocks like Kotak Bank, M&M, and Yes Bank if they close below certain price levels, with target prices lower than current levels.
The document provides a technical analysis of various currency pairs including USDINR, EURINR, GBPINR, and JPYINR against the Indian rupee. For each currency pair, the analysis examines the price pattern, moving averages, MACD, RSI, and ADX indicators on hourly charts to determine whether the pair is trending up, down, or sideways. Many pairs are seen to be at crucial price levels that could determine their next short term direction. Economic indicators from the US and Europe are also listed, with their expected impact on the respective currencies.
The document provides a technical analysis of ONGC stock. It summarizes that on the monthly chart, the stock has formed a bullish piercing candlestick pattern indicating a reversal. On the weekly chart, the stock has broken out of a flat movement with rising volume. Technical indicators like the 21-week and 100-day moving averages also indicate an upward trend. Based on the positive structure across time frames, the analyst expects the stock to rise to 265-270 levels in the coming trading sessions and recommends buying ONGC at current levels.
The document provides a technical analysis of the QSE Index and key Qatari stocks. It finds the QSE Index and Al Rayan Islamic Index to be neutral in the short term. United Development Co. and Barwa Real Estate Co. are expected to bounce back or continue their upswings in the short term, while Gulf International Services and Vodafone Qatar are predicted to experience pullbacks.
The document provides a technical analysis of the QE Index and several Qatari stocks, giving short-term outlooks. The QE Index is seen continuing its uptrend in the short-term. Al Khalij Commercial Bank is expected to pull back and test support. The Al Rayan Islamic Index jumped over 1% and is seen testing resistance levels in the coming days. Gulf International Services witnessed profit-taking after a rise but remains in an uptrend.
The document provides a technical analysis of the QE Index and key Qatari stocks to consider. It analyzes short-term trends for the QE Index, Qatar Electricity & Water Co., Al Rayan Islamic Index, Ezdan Holding Group, Barwa Real Estate Co., Gulf International Services, and provides support and resistance levels for these stocks as well as others. It also includes a table showing the last close, trend, support, and resistance levels for various Qatari stocks.
Daily Forex Technical Analysis Report - July 15, 2020
Technical Analysis Research Report English
1. 1
Date : 23rd
December 2015
Instruments : 1. EUR/USD
2. WTI Crude
3. Hong Kong Index (HSI)
Written by : Alan Yeo
--------------------------------------------------------------------------------------------------------------------------------------
EUR/USD
Chart 1: EUR/USD Daily Chart
Chart 2: EUR/USD Weekly Chart (2013-2015)
2. 2
Chart 3: EUR/USD Weekly Chart
Further Weakness!
On the daily chart, we can see that the pair has been trading within a band of 1.05649-1.14417. In the
beginning of the week, in anticipation of a rate hike decision by the FED midweek, price started to fall
and the selling momentum strengthened upon the confirmation of the hike. The US FED increased
interest rates by 25 basis points, its first increase since 2006. This is mostly in-line with market
expectations. The rate hike signals faith that the US economy has recovered from the Global Financial
Crisis in 2008. However, Miss Yellen thinks that future rate hikes are unlikely to be evenly spaced,
because she thinks the US economy will not progress "sufficiently evenly" to make that possible. This
comment signals that the next rate hike may not come as fast as it used to be, as such, the strength of
the USD may not rise steadily as anticipated, pending more data on the US economic front. On top of
that, the global economy has not been all rosy with growth in the Asian region slowing down
significantly and oil prices near their 10 years low. However, market participants are anticipating the
next hike to be in April 2016.
On the weekly chart, it shows a consolidation phase at this moment of time. It seems that the pair has
hit a resistant at the 20 days EMA line (1.10482) on the weekly chart. Going forward, the technical
indicators are showing signs of weakness with RSI at 44.27% and MACD turning down. As such, traders
may look at taking a long position only at around the level of 1.055-1.06, which happens to be the
support and the lower band of the Bollinger bands.
On the daily chart, selling momentum is gaining steam and trending towards the 20 days EMA; most
likely heading towards the lower band of the Bollinger bands. Both MACD and RSI have turned down
3. 3
and this present us with a trading opportunity. Traders with a shorter term view may want to initiate
a short position; selling into the decline and look to buy back at around the level of 1.055-1.06. Stop
loss can be place at the 20-days EMA of 1.105.
ACTION:
Sell 1.08424 and cover at 1.055 => 2.7%
Stop at 1.105 => -1.9%
4. 4
WTI Crude
Chart 4: WTI Crude Daily Chart
Chart 5: WTI Crude Weekly Chart
FALLING KNIFE!
At the recent OPEC meeting, the oil cartel has reaffirmed that there will be no cut in supply so as to
defend their market share. Extra Iranian production could add to the surplus and causes the stockpile
to rise further. A rebound to start this week fizzled after just two sessions after The U.S. Energy
Information Energy reported Wednesday that domestic oil inventories rose by 4.8 million barrels last
week, adding to the oil glut and taking the market by surprise as analysts had been expecting a
decrease. With the global economy facing a slowdown, demand for the commodity is not expected to
improve anytime soon.
5. 5
On the technical front, both the daily and weekly chart showed further weakness in the price of oil.
Previous support (low) at 37.705 was broken and as a result, has become the near term resistant.
MACD on the daily chart is poised to go down further after a failed cross and RSI remained in the
oversold territory. The weekly chart confirms the bearish view on the daily chart after breaking the
support of a descending triangle signalling more downside in the sessions ahead.
In view of the above, traders may want to initiate short positions at the current level and a stop-loss
placed at 35.95 and to take profit at 33.
ACTION:
Sell 34.717 and cover at 33 => 5%
Stop at 35.95 => -3.6%
6. 6
Hong Kong 43 Index
Chart 6: Hong Kong 43 Index Daily Chart
Chart 7: Hong Kong 43 Index Weekly Chart
No year-end rally; possibly going down before going up!
The HK 43 Index looks poised to go down further on both the daily and weekly charts. Since the end of
May, the index has started trading down a channel consistently. In the last few sessions, the index
staged a technical rebound and tested the 20-days EMA but failed to cross it convincingly and started
to pull back down the channel again. RSI and MACD are showing signs of turning down on the daily
chart. RSI is at 43.86% which is still way above the oversold territory. The bearish signals on the daily
7. 7
chart is substantiated by similar bearish signals on the weekly chart. The index seems to be heading
towards the support of 20,100 in the near term.
ACTION:
Sell 21,800 and cover at 20,100 => 7.8%
Stop at 22,245 => -2%
Disclaimer: The material in this presentation has been prepared by Alan Yeo and is general background
information about Alan Yeo’s activities current as at the date of this presentation. This information is
given in summary form and does not purport to be complete. Information in this presentation,
including forecast financial information, should not be considered as advice or a recommendation to
investors or potential investors in relation to holding, purchasing or selling securities or other financial
products or instruments and does not take into account your particular investment objectives, financial
situation or needs. Before acting on any information you should consider the appropriateness of the
information having regard to these matters, any relevant offer document and in particular, you should
seek independent financial advice. All securities and financial product or instrument transactions
involve risks, which include (among others) the risk of adverse or unanticipated market, financial or
political developments and, in international transactions, currency risk. This presentation may contain
forward looking statements including statements regarding my intent, belief or current expectations
with respect to market conditions, results of operation and financial condition, capital adequacy,
specific provisions and risk management practices. Readers are cautioned not to place undue reliance
on these forward looking statements. Alan Yeo does not undertake any obligation to publicly release
the result of any revisions to these forward looking statements to reflect events or circumstances after
the date hereof to reflect the occurrence of unanticipated events. While due care has been used in the
preparation of forecast information, actual results may vary in a materially positive or negative manner.
Forecasts and hypothetical examples are subject to uncertainty and contingencies outside Alan Yeo’s
control. Past performance is not a reliable indication of future performance.