KOSPI Observed Up in Morning Session
Asian equity market movements on Friday (6/2), the KOSPI index has been opened and traded higher in early trading session.
Ongoing trade in the Asian session, the index KOSPI (Korea Composite Stock Price) has traded higher by 2:29 points at the level of 1.955.13, while for the more specific the KOSDAQ index has traded higher 5:05 points at 605.86.
Spot Kospi index movement gained in early trading at 2:30 or 0:11% points being 1955.13 points from its closing position prior to 1952.84 points with lows at 1946.02 points and the highest achievement in 1962.15 points.
The movement of Kospi index futures also gained at 0:11 points, or 0.05% are being 249.89 points from its closing position prior to 249.78 points with the highest achievement on 251.41 points and the lowest target at 248.94 points.
Based on the close of trading yesterday, then according to analyst Vibiz Research Center estimates that trade movement today will move in negative territory with the support level at 248.90 and 248.10 points poi and resistance level at 248.75 points and 250.15 points. Can be seen on the indicator alligators, Parabolic SAR, Stochastic and B with time H1 and H4.
Technically, the index on the trading session today, Friday (06/02) 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 248.70 and 246.90. If it fails at 250.20, then the next index is expected to tend to retest the resistance level of 251.50 and continued until the possibilities are in the 253.10 area.
Stronger Pound Sterling, US Dollar Mute Pressure
British Pound exchange rate on Thursday Yesterday moved higher against the US Dollar. GBPUSD opening price is at 1.5176 in early trade (0000 GMT), and the currency has gained about + 19 pips or about + a 0.12% and the value of rolling was observed to be at 1.5195.
Positive sentiment towards the currency Sterling seems to increase after the Halifax Bank of Scotland said that the housing sector in the UK has increased performance, better-than-expected number of economists.
The development is shown by the increase in economic indicators Halifax HPI m / m figure improved to 2.0% from the previous period is 1.1%. encouraging information that shows better performance than the estimated number of economists, who will estimate dropped to 0.1%. British Pound exchange rate was observed to move up to respond to these developments.
Technically, today’s trading session on Friday (06/02), pound sterling-dollar pair likely to move in a positive trend.
The strengthening of the pound sterling primarily expected soon reexamine the minimum resistance at 1.5380 and 1.5425 maximum. Meanwhile, if the Pound was unable to break and stays below 1.5330 then another alternative scenario that Pound chance to test support in 1.5300 and 1.5250 area.
Gold Stable Early Sessions, Waiting for US NFP report
Gold moves steady on Friday ahead of crucial data is labor tonight, but it was on track to record its biggest weekly loss in nearly two months after a sharp rise at the beginning of this year.
Strong US employment figures for January will reinforce expectations for a rate hike this year, dampening the appeal of hedge assets such as gold.
Spot gold prices move almost flat at $ 1.265 / onz at 9:44 pm. The precious metal has fallen by 1.5% so far this week, which it would be the biggest drop since the week ended December 19.
Gold rose by 8.4% in January, it was the largest monthly gain in three years, assisted by a sharp decline in US economic growth in the fourth quarter.
Current market focus switched to report non-farm payrolls, with the result a Reuters poll of economists forecast a rise 234 000 workers in the last month of the increase 252,000 workers in December. It will be a 12-month consecutive rise to the increase in the number of workers in the top 200,000, which would be the increase in the longest streak since 1994.
Investment holdings in the SPDR Gold Trust, rose to 24.86 million / onz on Thursday, it was the highest since September.
Technically, gold trading session today, Friday (06/02) 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 1270.10 and re-test the maximum level of 1275.87. However, if the price of gold was unable to break and stays below 1266.00 then estimated the price of gold could potentially test the 1263.78 and 1258.40 Support.
