At the beginning of this new month markets have closed very close to zero rates and are slowly getting higher.  Many analysts who predict a roll back of 10-20% must feel themselves uncomfortable because their forecast is not supported by the price.

Asia closed indefinably after the index of prices for Chinese services outcome. Japanese Nikkey has grown for another 0.66% in front of a weak Yen. This weakness of a currency is profitable for the economy because of export-oriented companies.

Europe opend with minus and all the investors’ attention will be paid to ECB meeting on Thursday. There are a lot of those who expect some active movements from Mario Draghi. The main function of ECB is inflation control in Eurozone and it’s main instrument is refinancing rate which is now record low — 0.25%. To overcome the deflation that is holding back the whole Eurozone growth the refinancing rate should be lowered so that banks could attract money from ECB less expencive and activate crediting and consumer sector costs. These expectations are pushing against the Euro.

Apple has presented iOS8 yesterday. There are some innovations: an iCloud for photos, new functions of the “Message” app, new app “Health” which gives a full overview of healthcare and training information. This event has upset Wall Street investors because they where expecting a new gadget release, something like iWatch or or SmartTV. Apple shares always are sold out during such presentations which has also happend yesterday. It’s hard to buy at such price levels so I’m going to wait for a roll back to $522 where 8 EMA is, the next support rate is at $605 where 21 EMA is. You can trade tactically down from resistance rates $635-37, buyers could not hold the price higher than this zone, the top is $644.17.

eBay is a $50 support rate breakdown candidate for me. It’s traded lower than key moving avarages including the main 200 EMA. This means that sellers are in control of price despite the strenghth of the market and technological sector. It could not hold higher than $58 (breakthrough point) and it’s definitely not a good signal for buyers.
EBAY opened with down fraction at it’s 30 April report, resistance is $52.75. I do not see any buying signs and keep waiting for this $50 psychological resistance rate breakthrough and for a good continuation, the first target is near $46.


Goldman Sachs investing bank is also showing weekness. Key rate here is $162, which used to be a suppord and has now turned out to be a resistance. It has broken this rate for a while but buyers could not hold the price — this also shows their weekness. On a daily chart you can see a bull flag — a movement continuation figure which started from $176 to $152. Support rate breakthrough at $152-56 can lead to further downtrend to $140.

Goldman Sachs

GBP/USD has broken it’s middle term trend, which took place since November 2013. It has also lost a few key moving avarages. I’ll consider a Put option from potential resistance rates 1.6769 (8 EMA) and 1.6800 (21 EMA). It used to be a resistance zone marked with a red quadrangle, which can resume againe. We also have a suite of dropping down tops, which gives us a prompt about weekness of this trend.


Disclaimer of warranty
Despite the fact I give you precise entering price and targeting rates in my notes, every trader should personaly operate their own positions in order to their timeframes and strategy. We have a team of traders in Opteck and each of them would operate these trade types in their own way. There is no one and only right way of trading.