Japanese Stocks Streaking
Started trading the stock exchange Tokyo Japan Monday morning (8/6), the Nikkei index opened successfully rebounded significantly from the previous weekend was trading weaker by the weakening of the Japanese Yen.
Strengthening of the index this morning affected the first quarter GDP revised data on Japan, the data showed a significant surge to 1% of the previous releases in the 0.3% to the growth expectations of economists who would be 0.6%.
Some stocks that contributed to the strengthening of such shares of Nissan Chemical Industries rose 0.69%, TOTO shares jumped 1.61%, shares of Toshiba Corp shot 1.8%, shares rose GS Yuasa 0:57%, stocks Hino Motors and Mazda Motor gained 0:48% and 0.79%, shares of Honda Motor and Suzuki Motor positive 066% and 00:47% and shares of Fuji Heavy Industries surged 1:53%.
This morning the Nikkei index opened higher significantly by 67.31 points, or 0:32% by becoming 20528.21 points from the previous closing position at 20460.90 points and reached the highest position traded the previous weekend at 20480.25 and the lowest point at 20363.18 points earlier ,
But unlike the movement of Nikkei index futures traded on this morning, with opened lower by 10 points or 0:04% which is 20 550 points from the previous closing position at 20 560 points and reached the highest position traded last weekend at the 20 620 points and the lowest was 20 365 points.
Based on the results of last week’s closing akahir traded, then Analyst estimates that today’s Nikkei index movement seems to be trying to penetrate the resistance at 20 505 points by the middle MA5 BB10 H4, if the movement of the index broke through the first resistance is expected to try to penetrate the next resistance at 20 565 points with MA5 middle BB10 daily.
If the movement of the index managed to reverse direction mencaba weaker then expected to penetrate the support at 20 436 points with MA5 under BB10 daily, if the movement of the index broke through the first support is expected to try to penetrate the next support at 20 380 points with MA5 below BB10 daily
Technically, the index on the trading session today, Monday (08/06) 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, on the M15 charts, is oversold, signaling upside.
It is estimated, the index test the first resistance level of 20475 and 20550. If it fails at 20 425, then the next index is expected to tend to retest the support level that is 20 380 and continued until the possibilities are in the area of 20 325.
Pounds Post Sharp Drops On Labor Data
Pound Sterling fell sharply against the dollar, but managed to climb into positive territory against the euro on Friday, after the US nonfarm payrolls data released rose beyond estimation. US employment improved in the last month, while wage growth accelerated in May after slowing in early 2015, although the unemployment rate deteriorated slightly to 5.5%.
Opportunity increase in interest rates the Fed in September has now risen after US employment data at the level of the best in the last 5 months, so ease concerns over the US economic recovery momentum faded after experiencing a contraction in Q1. Fed President Janet Yellen seeks to examine whether the economic slowdown at the beginning of the year are temporary or persistent, because the central bank was looking for the right timing for its first rate hike since 2006.
On the other hand, the Bank of England (BoE) will likely be the second central banks follow the Fed’s interest rate hikes in the coming months, this means that if expectations of interest rate hikes the Fed improved, it also boosted the pound sterling against the various currencies of non Other dollar.
Technically, the trading session today, Monday (08/06), pound sterling-dollar pair has an opportunity to move in a negative trend.
The weakening of the pound sterling mainly expected soon reexamines the minimum Support at 1.5200 and maximum 1.5150. Meanwhile, if the Pound able to break and hold above 1.5265, then the other alternative scenario that is likely to test resistance Pound in 1.5280 and 1.5340 area.
US Economy Improved, Gold Prices Hit
Saturday morning ended the last trading price of gold fell sharply (8/6). Precious metal prices experienced pelemahn up had reached the lowest position in 11 weeks later. Dollar is increasingly against rivals has given a strong impetus to the weakening of the gold price.
The dollar soared after strong data from the US labor sector showed a positive condition Friday night. Non-farm payrolls increased by 280 thousand people in last May; this increase was the biggest since December. The increase in NFP also far exceeded estimates that only expect an increase of 225 thousand people.
Dollar experienced steady rises of 1.1 percent against six major rivals are present in the dollar index. Unemployment rates persist at the level of 5.5 percent also provides bright enough shadow on the condition of the labor sector.
At the end of trading last week spot gold price weakened sharply observed. The price of the precious metal is experiencing closures in position 1170.75 dollars per troy ounce. Closing position weakening by 5.85 dollars or 0.5 percent compared with the previous. The spot gold price of LLG had fizzled to the level of 1162.40 dollars, the lowest since March 19 last.
On Monday morning trading spot gold price of LLG observed a movement that is still limited and stagnant, not moving a lot of positions close of trading last week. Price is currently trading at 1171.50 dollar positions.
Analyst estimates that LLG spot gold price movements today will move with a tendency to move sideways and limited in Asian session. The price of gold is likely to continue the decline in the European session and the United States.
In today’s trading price of gold has the potential to test the support level at position 1,162 dollars per troy ounce. If successfully penetrated, the price will continue to decline again to a position of 1,155 dollars. Whereas in case of movement of the price rebound will test the resistance level at 1,180 dollar positions. If successfully penetrated the price will continue rising to the position of 1,185 dollars.
Technically, gold on the trading session today, Monday (08/06) the potential reversal, testing positive trend, but prone to profit taking. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Bands began to shrink, thus giving impetus for gold to the downside.
It is estimated that the gold price immediately prior to test resistance in the area of at least 1180.60 and re-test the maximum level of 1186.10. But if the gold price could not break and survive below 1175.10 then predicted gold prices could potentially test the Support 1173.25 and 1168.10.
