Nikkei Fly High
The Nikkei index in early trading Japanese cherry country stock markets Thursday morning (27/8), opened with the Nikkei index is still continuing the positive trend of the previous traded, which is where the strengthening of this morning was due to continued pressure in the movement of the Japanese yen last night until early Asian session this.
Looks entire shares traded this morning, be a reinforcement for the Japanese stock market, where the shares of Nitto Denko become amplifier largest this morning, by contributing penvuatan at 9:26%, followed by shares Alps Electric 7:57%, shares of Fuji Heavy Industries 6:58% , Kansai Electric 1:58% shares, 2.61% stake TOTO, Mitsubishi Heavy Industries 4:10%, shares of Hitachi Zosen 1:54%, and shares of Mitsubishi Motors, Toyota Motor and Suzuki Motor shares% at 2:38, 3:06%, and 1:25%.
This morning, the Japanese Nikkei spot index managed to post gains of 250.58 points, or 1:36%, to 18627.42 points of the position be traded before closing at 18376.83 points position and managed to record the highest increase previously traded on the position of 18442.84 points and the lowest attenuation previously in the position of 17714.30 points.
Likewise, the movement of Nikkei index futures this morning, which helped strengthened by 385 points or 2:06%, to be 18 655 points from the previous closing position traded at position 18 270 points and managed to record the highest increase earlier traded at 18442.84 points and the weakening position the previous low of 18,500 points with MA5 under BB10 daily, if the movement of the index broke through the first resistance is expected to try to penetrate resistance at the second position with 18 680 points MA5 under BB10 daily.
If the movement of the index managed to turn around the direction of lower back, it is expected to try to penetrate the first support at 18,200 points with MA5 position under BB10 daily, if the movement of the index broke through the first support is expected to try to penetrate the second support at position 18 025 points with MA5 bawahBB10 daily.pada position 17714.30 points.
Based on the closing traded previously, the analyst estimated that the movement of Nikkei index today will tend to continue strengthening traded prior to penetrating the first resistance at position 18,500 points with MA5 under BB10 daily, if the movement of the index broke through the first resistance then expected to try to break through resistance second position with 18 680 points MA5 under BB10 daily.
If the movement of the index managed to turn around the direction of lower back, it is expected to try to penetrate the first support at 18,200 points with MA5 position under BB10 daily, if the movement of the index broke through the first support is expected to try to penetrate the second support at position 18 025 points with MA5 bawahBB10 daily.
Technically, the index on the trading session today, Thursday (27/08) likely to strengthen, test positive trend. At the M15 chart bullish hammer formation to provide opportunities for the index to move upside. However, the volume tends to increase, as well as an early indication of bullish index. In addition, RSI, the M15 chart, was oversold, signaling upside.
It is estimated, the index test the first resistance level of 18 810 and 18 760 18860. If it fails in, then the next index is expected to tend to retest the support level of 18720 and continued up to the possibility of being in the area of 18 670.
Dollar Ended Higher Against Euro
The dollar ended higher against major rivals on the trading session Wednesday for the second session in a row after the People’s Bank of China injected 140 billion yuan into the country’s financial system, a move that helped boost US stocks that have declined sharply in recent days. The dollar index, WSJ BUXX, rose 0.9% to a level of 88.07, the increase in the second session in a row.
Capital injections a day after the PBOC’s decision to lower interest rates and lower the reserve-requirement ratio for banks, a move that failed to prevent the Chinese stock market closed in the red zone. The Shanghai Composite Index closed 1.3% lower on Wednesday.
The dollar also benefited from unexpectedly strong readings on durable goods orders for July, coupled with a strong reading on US consumer confidence data released by the Conference Board on Tuesday. Both of these data helps reaffirm investor confidence over the US economy.
Strong data seem to have a greater influence than the president’s comments on the New York Federal Reserve President William Dudley, who said the rate hike is now September seem “less attractive” than a few weeks ago. The US dollar is very sensitive to the turmoil in the Chinese market over the past week as investors debated whether problems in the world’s second biggest economy was likely to cause the Fed to postpone the first rate hike since 2006.
EURUSD dropped 1.1% to a level of $ 1.1398 on Wednesday. The shared currency has fallen 0.1% against the dollar since the beginning of the week.
Technically, the trading session today, Thursday (27/08), the pair Euro-dollar likely to move in a negative trend.
The weakening of the Euro mainly expected soon reexamine the minimum support at 1.1275 and maximum 1.1210. Meanwhile, if the Euro is able to break and hold above 1.1329, then another alternative scenario the Euro a chance to test the resistance at 1.1350 and 1.1400 area.
Gold Record Decline 3 Day Streak
Gold ended the Wednesday trading at the lowest level in more than a week, once recorded a decline for the third consecutive session, as a rebound in US stocks and a strengthening greenback pushed investors away from the precious metal.
Bullion was also weighed down by US data showing a rise in durable goods orders in July, which could improve the prospects for Federal Reserve interest rate hikes. In turn, this will boost the US dollar and depress the price of gold denominated in US currency.
While gold fails to take advantage of its reputation as a safe haven amid the emergence of doubts over China’s steps to stabilize the economy and market. Some analysts argue that the turmoil in financial markets has forced investors to liquidate their gold holdings and prefer to hold cash.
Technically, gold in today’s trading session Tuesday (27/08) potentially bearish, tested negative trend back, but prone to reversal. RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Band begins to widen, thus giving impetus for gold to the upside.
It is estimated that the gold price immediately prior to test support i n the area of at least 1120.10 and re-test the maximum level of 1115.25. However, if the price of gold is able to break and hold above 1126.40, the predicted gold prices could potentially test Resistance ie, 1129.40 and 1133.10.
