fbpx

Register for MT4 Demo Account

Register for xStation Account

Major Shares Slid Amid Global Cues, Mixed Chinese PMI Figures & Soft U.S GDP Figure

By Research Team Friday, Apr 30, 2021
USD/CHF

    • 3.15pm ISTD1
    • High0.90986
    • Low0.90801
    • Close0.90853

USD/CHF is trading at 0.90895, 0.36% up since Thursday. The Swiss Franc moved on higher against the soft USD amid weaker than expected U.S Advance GDP & Jobless Claims data which has been released on Thursday. Besides this, the U.S Fed failed to live up to the traders & investors expectations over tapering down the bond purchases program despite progressive economic conditions & stable labor sector which forced greenback to trade lower & CHF stronger. The result of Retail Sales data remains in focus for the day. As seen in the chart, the pair is floating below the short term MA (10) & MA (20) indicating the possibility of downside trading. Further buying may be recommended in CHF against the USD with a target of 0.90500 on daily basis.

Read More… Read Less

Daily Outlook

USD/CHF

Intra Day
Near Day

Technical Levels

R3 0.91745
R2 0.91351
R1 0.91115
Turnaround 0.90957
S1 0.90721
S2 0.90563
S3 0.90169
By Research Team Friday, Apr 30, 2021
NATURAL GAS

    • 3.55pm ISTD1
    • High2.906
    • Low2.886
    • Close2.899

Natural gas is trading at $2.893, 0.17% down since previous close. The Natural gas prices slid down post release of Energy Information Administration (EIA) report which shows a rise in Natural gas inventory level by 15B as against the expected build-up of 8B. Besides this, the mounting Covid-19 cases results into lockdown in many countries & hence, affecting the consumption demand of commodity. The changing climatic condition in U.S & European slows down the demand of heating fuels; further adding on the selling pressure. As seen in the chart, the Natural gas almost reversed down from major resistance level of previous highs & hence, slight selling bias may be maintained on daily basis.

Read More… Read Less

Daily Outlook

NATURAL GAS

Intra Day
Near Day

Technical Levels

R3 3.09130
R2 3.00100
R1 2.94900
Turnaround 2.91100
S1 2.85900
S2 2.82100
S3 2.73100
By Research Team Friday, Apr 30, 2021
CHNIND

    • 3.34pm ISTD1
    • High10914
    • Low10729
    • Close10752

CHNIND is trading at 10747, 0.41% down since Thursday. The Asian shares slipped amid selling pressure in global indices & slight recovery in USD. The China released mixed PMI figures wherein the Manufacturing PMI fell to 51.1 as against the expectation 55.9 & the Non-Manufacturing PMI rose to 54.9 versus estimation 51.8. These indicate steady level of progress in manufacturing & industrial activities. Earlier in a week, the CHNIND traded higher as Fed left an interest rate unchanged as expected; but, failed to line up with an expectation of bond purchase tapering. As seen in the chart, index crossed down the MA (10) & MA (20) & is, now, trading near previous lows which act as a major support level. Slight selling may be seen in CHNIND on daily basis.

Read More… Read Less

Daily Outlook

CHNIND

Intra Day
Near Day

Technical Levels

R3 11357.00000
R2 11157.00000
R1 11042.00000
Turnaround 10957.00000
S1 10842.00000
S2 10757.00000
S3 10557.00000
footer-logo

XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms with excellent execution speed, a 24/5 client support system with no dealing desk involvement.

 

© 2024 XFlow Markets, All rights reserved.

Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

 

XFlow Markets INC is incorporated in Saint Lucia with registration no. 2023/C088 governed by the Companies Act, Cap 13.01 of the revised laws of Saint Lucia.

XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.

Telephone number: UAE: +971 43304431 Working hours: 7:00 AM - 5:00 PM (GMT+0)

XFlow Markets does not offer any fixed returns & guaranteed profits. Forex and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk. Please consider our Risk Disclosure.

XFlow Markets does not guarantee any returns or profits. Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.