MARKET VIEW: The trading week on wall street opened yesterday with gains yesterday. The S&P 500 rose by 0.5% and is set at a level 1,998 points,during the trading day and for the first time, the index went above the 2000 points threshold. The Dow Jones also gained 0.5% and the Nasdaq added 0.4% to his value and is now far by 12% from his highest level ever. Apple shares climbed yesterday by 0.2% to a new peak, after analysts estimated that there is no concern that the consumer electronics giant smartphone will be forced to delay the launch of iPhone 6. New home sales in the US fell unexpectedly in July, this is the second consecutive decline. The new home sales fell in July by 2.4% to an annual rate of 412 thousand homes, the lowest number in four months and compared the a rate of 422 thousand homes. Trading Opportunity: EUR/GBP On 4 hours chart and after several waves of decline, the pair arrived to an intraday support area around the level of 0.7950. In the last few hours the pair is treading around the support area and as there is a bullish divergence at the histogram of the MACD oscillator. Our tendency is to look for CALL options trades, for a short up to a medium term trades. The entry will be from around the levels of 0.7950 to 0.7960.
Posted on: Tue, 26 Aug 2014 16:57:00 +0000
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