Nikkei Return to Reinforcement Strip
After stopping the strengthening of the five-day losing streak on Wednesday trading, Japan’s Nikkei index is now back on track reinforcement, back yen traded at 119 per dollar provide positive sentiment for Japanese exporters.
Financial sector stocks continue to rally after the Financial Services Agency of Japan reportedly will give you the freedom to banks to expand into the area of e-commerce. Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group rose 0.3%. The rebound in crude oil prices also encourage the strengthening of the energy sector, Inpex Corp.dan Japan Petroleum Exploration Co. each rose more than 2%.
While stocks “heavyweight”, Softbank rose 2% and 0.5% Fast Retailling add. The headline Nikkei index rose 0.5% to 18675.25. While the Nikkei futures traded in the range of 18 675 at 8:36 pm, with 18 585 daily lows, and highs 18700
Technically, the index on the trading session today, Thursday (26/02) likely to weaken, test negative trends, the impact of Wall Street. At the M15 chart bearish engulfing formation provides opportunities for the index to move downside. However, the volume tends to rise, early indications bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first support level that is 18610 and 18550. If it fails in 18680, we then estimated the index tends to retest the resistance level that is 18 710 and continued until the possibilities are in the area of 18 760.
Euro Moves Stable Over Anxiety Presence in Greece
The euro stabilized against the US dollar on Wednesday, as investors are still cautious even though she has approved the extension for four months of the next bailout for Greece, while the statement of the chairman of the Federal Reserve has damped demand for the greenback.
Sentiment on the euro remained fragile amid persistent doubts over Greek bailout extension agreement for four months.
Both the International Monetary Fund and the European Central Bank on Tuesday has warned that Greece’s reform plans have not been sufficiently detailed and said that Athens would need to do more to secure the release of further bailout funding.
The dollar weakened broadly after Fed Chairman Janet Yellen said “not possible” that economic conditions would warrant for a rate hike “for at least the next two FOMC meetings.”
EUR / USD hit a 1.1388 in European trading session, it is the highest level since Monday, when the currency pair is consolidating at 1.1357.
The pair was likely to find support at 1.1277 level, its lowest level February 20 and resistance at 1.1449, the highest level February 19.
Technically, today’s trading session on Thursday (26/02), the pair Euro-dollar likely to move in a positive trend.
The strengthening of the Euro mainly expected soon reexamine the minimum resistance at 1.1410 and 1.1490 maximum. Meanwhile, if the Euro was unable to break and stays below 1.1366 then another alternative scenario that Euro chance to test support in 1.1330 and 1.1280 area.
Chinese New Year Holiday Complete, Precious Metals Up Back
Gold back rise after Chinese buyers began to return from vacation for a week plus investors also focused on the prospects of the Federal Reserve to raise interest rates in the US.
On the Comex in New York Mercantile Exchange, gold was up 0.4 percent at $ 1,207.52.Chair TheFed women, Janet Yellen testified to the Senate Committee yesterday showed that the ‘promise’ to wait for the moment to raise interest rates and currency US dollar to fall.
Precious metals rose modestly with physical demand in China, the Shanghai gold exchange standard volume rose more than doubled.
In other metals trading, silver for immediate delivery rose to $ 16.5648 an ounce, spot platinum rose 0.1 percent to $ 1,172.88 an ounce, while palladium was little changed at $ 808.05 per ounce.
Technically, gold trading session today, Thursday (26/02) potential reversal, tested positive trend, but prone to taking profit. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Bands that began to shrink, thus giving impetus to the gold to the downside.
It is estimated that the gold price immediately prior to test resistance in the area of at least 1213.10 and re-test the maximum level of 1218.87. However, if the price of gold was unable to break and stays below 1208.70 then estimated the price of gold could potentially test the 1206.78 and 1201.40 Support.
