Currency Exchange Technical Analysis

EUR/USD

The EUR/USD pair had a positive session on Friday, breaking the top of the hammer for the Thursday session which of course is a strong buy signal. However, there is a significant amount of resistance just above going all the way to the 1.37 level at the very least, and as a result we are very hesitant to start buying now. We believe that ultimately this market should continue to stay in the consolidation area that we have been in for some time, thereby making it a very difficult market to get overly excited about. We are on the sidelines.
USD/JPY

The USD/JPY pair fell during the course of the session on Friday, closing just below the 101.50 level. With that, it appears that the market is probably going to test the support area just below, and we will be looking for some type of supportive candle in order to go along for the short-term trade. We don’t think of that the market will break down here, simply because we have been so sideways for so long. Until we are told otherwise, we have to believe that this market simply stays in this consolidation area.
GBP/USD

The GBP/USD pair went back and forth on Friday, essentially going nowhere. However, the one thing that he did do was show the 1.70 level to be supportive yet again, and with that we believe that this market is in fact trying to wind itself up in order to make a move higher. That move higher should get us to the 1.75 level given enough time, thereby creating a market that can be bought on dips going forward. We have absolutely no interest in selling this pair, and we believe that there is a significant amount of support down at the 1.69 handle.
AUD/USD

The AUD/USD pair tried to rally during the session on Friday but gave back up most of the gains. With that, the market tested the 0.9450 level, an area that has been very resistant risk lately. Because of this, we feel that the market will more than likely continue to pull back time and time again until we finally can build up enough momentum to break out above the massive resistance. We believe that the resistance goes all the way to the 0.95 handle, so we are not buyers until we break that level or if we get some type of supportive candle below.
Currency Data for 30 June

Time	Currency	Impact	Detail	Forecast	Previous
4:15am	NZD		Building Consents m/m		1.50%
5:20am	JPY		Prelim Industrial Production m/m	0.90%	-2.80%
6:00am	AUD		MI Inflation Gauge m/m		0.30%
6:30am	NZD	High	ANZ Business Confidence		53.5
Tentative	AUD		HIA New Home Sales m/m		2.90%
7:00am	AUD		Private Sector Credit m/m	0.40%	0.50%
10:30am	JPY		Housing Starts y/y	-10.10%	-3.30%
11:30am	EUR		German Retail Sales m/m	0.80%	-0.90%
1:30pm	EUR		M3 Money Supply y/y	0.70%	0.80%
	EUR		Private Loans y/y	-1.70%	-1.80%
2:00pm	GBP		Net Lending to Individuals m/m	2.5B	2.4B
	GBP		M4 Money Supply m/m	0.20%	-0.20%
	GBP		Mortgage Approvals	62K	63K
2:30pm	EUR	High	CPI Flash Estimate y/y	0.60%	0.50%
	EUR		Core CPI Flash Estimate y/y	0.70%	0.70%
	EUR		Italian Prelim CPI m/m	0.20%	-0.10%
6:00pm	CAD	High	GDP m/m	0.20%	0.10%
7:15pm	USD		Chicago PMI	63.2	65.5
7:30pm	USD	High	Pending Home Sales m/m	1.40%	0.40%

Singapore & Malaysia Stock Market Forecast for Next Week

Weekly wrap of STI:

STI Share prices opened lower in early trading session with STI down 6.71 points to 3271.86. Performance for this week maintained an uptrend and formed a rounded bottom pattern with previous week’s candlesticks. 

STI Day Performance
Open	3262.17
High	3279.37
Low	3254.26
Close	3271.05
Change(Points)	12.25
% Change	0.37%
Volume	1539.3M
Rise	182
Fall	188
Unch	724

Market Forecast for week ahead:

This whole week prices formed a white spinning top and today’s price formed long legged Doji in red market, both the candlestick’s pattern signal indecision. Unexpected price movements may happen.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3220	3180	3160	3310	3350	3382

Technical Indicators:

RSI stood at 59.041 with CCI at 60.542. And difference line of MACD (38.544) is above its signal line (31.518).

Macroeconomic factors:

• Singapore’s Manufacturing Sector has slipped to 2.5% in May due to drops in both the electronics and biomedical manufacturing clusters.
• SGX announced proposals for a new regulatory framework for global companies to seek a secondary listing.
• Singapore’s state government signed a protocol agreement with Russia to continue expanding cooperation between Singapore and St Petersburg in sectors viz transport, science parks, urban planning, e-government and training programmes.
• Singapore's gold futures contract on SGX to start trading September 2014.
• Singapore’s inflation rose to 2.7% in May.

Weekly wrap of KLCI:

Malaysian share prices opened on a mixed note today with KLCI down 0.63 points to 1889.34. Continued to trade lower in mid-morning weighed by losses in Public Bank and PETRONAS linked companies. Malaysia ranked 7th top FDI recipient in Asia on the scale of investments in manufacturing, services and primary sectors in 2013.

FBMKLCI Day Performance
Open	1884.74
High	1892.33
Low	1880.25
Close	1880.93
Change(Points)	-4.79
% Change	-0.25%
Volume	1644.1M
Rise	371
Fall	393
Unch	1448

KLCI performed a range bound traded session this whole week but quite well from previous week. Today, it opened at 1884.74, performed within a range of 12 points. Prices went down as sellers dominated buyers and closed at 1880.93 points. Market has been in a consolidated phase this week. From the perspective of whole week, KLCI performed low on an account of previous 2 week price movements. A weekly chart showed that KLCI focused on lower price movements and made an inverted hammer pattern with along uptrend which anticipates bearish reversal.

Market Forecast for week ahead:

After performing a sideway price movements in the whole week, a long red candle was formed for the day ending. We may expect a fall in prices of KLCI stocks which leads to make a downtrend for KLCI next week.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1868	1850	1840	1889	1892	1900

Technical indicators:

RSI for this week is 62.139 with CCI at 109.413. Besides, difference line of MACD (18.655) stood above its signal line (18.154).

SGX | Malaysia Stock Market Overview for 26 June

Market Review for STI:
Share prices opened higher today with STI 5.16 up points to 3266.70. Prices closed at the level of 3265.78 which covered half of the previous upper shadow. Asian stocks rose as investors watch for US recovery.

STI Day Performance
Open	3266.70
High	3279.37
Low	3265.78
Close	3278.57
Change(Points)	17.030
% Change	0.52%
Volume	1745.5M
Rise	216
Fall	160
Unch	717

Market forecast for STI:
A long green candle is formed for the day followed by an inverted umbrella. Last six trading session candles formed a small rounded bottom pattern. For the next movement, it is expected that prices may go up.
Technical indicators:
RSI stood below the centre line at 52.858 with its CCI at-48.534. Difference line of MACD performed at 0.063 which lied below its signal line which performed at 4.158.

STI LEVELS
Support 1	3255
Support 2	3245
Support 3	3230
Resistance 1	3289
Resistance 2	3299
Resistance 3	3314

Important Factor for today:-

• Singapore launches three residential sites for sale in June 2014 under H1 Government Land Sales Programme by the Urban Redevelopment Authority (URA) and Housing & Development Board (HDB).
• Ascendas Real Estate Investment Trust sees net income yield of 6.98% from purchasing of Hyflux Innovation Centre for S$170 million in the first year.
• GSH Corporation will undergo a sell and purchase agreement with Keppel Land and its fund management partners to buy Equity Plaza for S$550 million.
• Wilmar International has closed the deal to buy Huntsman Corporation’s European commodity surfactants business.
• Hyflux international has signed a MOU with Banco Interacciones to collaboration water projects in Mexico.
• Air India became a member of Star Alliance, benefits and privileges could be seen from July 11 onwards.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
JMH 400 USD	60.77	1.69	Golden Agri-Res	0.565	-0.88
CapitaMall Trust	1.99	1.53	CapitaLand	3.2	-0.31
JSH 500 USD	37.02	1.48	Jardine C&C	43.85	0.02
Noble	1.38	1.47	SIA	10.36	0.1
SPH	4.21	0.96	SGX	6.92	0.14

Market Review for KLCI:
Malaysian share prices opened at mixed note near to previous close with KLCI down 0.81 points to 1888.74. Manufacture sector could support the momentum of Malaysia’s business environment in the 2H 2014.

KLCI Day Performance
Open	1888.74
High	1889.97
Low	1882.25
Close	1889.97
Change(Points)	0.420
% Change	0.02%
Volume	1420.8M
Rise	387
Fall	414
Unch	1410

Market forecast for KLCI:
Share prices opened at 1889.740 and closed at 1889.970 by making a low of 1882.250. A green body is formed having a long lower shadow which made a hanging man pattern in long uptrend, signalling a bearish reversal. It is expected that market may fall down.

KLCI LEVELS
Support 1	1872
Support 2	1862
Support 3	1847
Resistance 1	1899
Resistance 2	1909
Resistance 3	1924

Technical indicators:
RSI stood below the centre line at 61.968 with its CCI at 128.86. Difference line of MACD performed at 5.514 which lied above its signal line which performed at 3.978.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
PPB	15.08	1.89	KLCC	6.39	-0.93
PETDAG	24.6	1.82	IHH	4.35	-0.69
SKPETRO	4.41	1.15	PBBANK	19.9	-0.6
GENTING	10.1	1.1	ASTRO	3.55	-0.56
GENM	4.2	0.48	HLBANK	13.86	-0.29

SGX Singapore & Bursa Malaysia Stock Market Daily Updates

Market Review for STI:
Singapore’s gold futures contract on SGX to start trading September 2014. SGX announced proposals for a new regulatory framework for global companies to seek a secondary listing.

STI Day Performance
Open	3261.34
High	3270.07
Low	3260.23
Close	3261.54
Change(Points)	-0.490
% Change	-0.02%
Volume	2175.4M
Rise	152
Fall	240
Unch	699

Market forecast for STI:
After moving down over last week, Singapore Share prices opened mixed today with STI down 0.69 points to 3261.34. It formed an inverted umbrella pattern for the day by making high at 3270.07. The whole day range was 10 points by making low at 3260.23 and closed at 3261.54. Green candlestick pattern showed that buyer’s sentiments dominated sellers. A bearish reversal is anticipated as Inverted umbrella formed at the end of the significant long uptrend when buyers dominate the day but sellers fight back to close at the opening price, which is also the lowest price of the day.
Technical indicators:
RSI stood below the centre line at 44.495 with its CCI at-113.88. Difference line of MACD performed at -0.491 which lied below its signal line which performed at 5.181.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
CapitaMall Trust	2.3	1.32	Ascendas Reit	1.36	-2.51
CityDev	6.65	1.06	CapitaLand	2.47	-1.2
ComfortDelGro	3.87	1.04	CapitaMall Trust	2.42	-0.82
DBS	0.57	0.89	CityDev	0.615	-0.81
Genting Sing	2.68	0.75	ComfortDelGro	59.76	-0.78

Market Review for KLCI:
Malaysian Share prices opened lower with KLCI down 2.8 points to 1889.53. Ringgit opened lower against US dollar on profit taking activities and quoted at 3.2210/2231 against the currency. KLCI marked it’s open and close at the same level and Market moved between the ranges of almost 3.96 points.

KLCI Day Performance
Open	1889.53
High	1891.64
Low	1887.68
Close	1889.55
Change(Points)	-2.780
% Change	-0.15%
Volume	1730.3M
Rise	300
Fall	545
Unch	1365

Market forecast for KLCI:
Share prices opened and closed at the same price level by forming a Doji candlestick pattern. It is indecisive for the next movement though we may expect prices to open on mixed note tomorrow.Share prices opened and closed at the same price level by forming a Doji candlestick pattern. It is indecisive for the next movement though we may expect prices to open on mixed note tomorrow.
Technical indicators:
RSI stood below the centre line at 61.714 with its CCI at 180.279. Difference line of MACD performed at 5.082 which lied above its signal line which performed at 3.434.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
TENAGA	12.2	1.16	FGV	4.34	-1.59
RHBCAP	8.58	0.7	KLCC	6.45	-1.53
HLFG	16.1	0.5	YTL	1.58	-1.25
TM	6.35	0.47	SKPETRO	4.36	-1.13
SIME	9.66	0.42	GENTING	9.99	-0.7

Important Factor for today:-

• SGX announced proposals for a new regulatory framework for global companies to seek a secondary listing.
• Singapore’s state government signed a protocol agreement with Russia to continue expanding cooperation between Singapore and St Petersburg in sectors viz transport, science parks, urban planning, e-government and training programmes.
• Singapore’s gold futures contract on SGX to start trading September 2014.
• Lion Gold Corp has unveiled an agreement with Malaysian businessman to raise S$4.23 million.
• Longcheer Holdings is selling its wholly-owned subsidiary Mobell Technology for S$48 million to a company owned by Longcheer’s executive directors.

Market Review for STI Singapore & Malaysian KLCI

China’s stocks rose to its biggest gain in a week as renewed economic optimism showed that new equity sales will divert from existing shares. China’s manufacturing Purchasing Manager’s Index from HSBC Holdings Plc and Markit Economics rose to 50.8. Singapore has expanded economic co-operation with Russia. Besides, Singapore’s increased inflation rate by 2.7% may boost share prices.

STI Day Performance
Open	3258.28
High	3269.17
Low	3256.17
Close	3262.03
Change(Points)	4.630
% Change	0.14%
Volume	1592.5M
Rise	231
Fall	168
Unch	693

Market forecast for STI:
After moving down over last week, Singapore Share prices opened near previous close with STI up 0.88 points to 3258.280. It formed an inverted hammer pattern for the day by making high at 3269.170. The whole day range was 12.67 points by making low at 3256.500 and closed at 3262.030. Green candlestick pattern showed that buyer’s sentiments dominated sellers. A bullish reversal is anticipated as it covered prices range under rounded top pattern for more than a month and inflation in Singapore may put further trajectory.
Technical indicators:
RSI stood below the centre line at 46.484 with its CCI at-125.18. Difference line of MACD performed at 5.189 which lied below its signal line which performed at 8.386.

STI LEVELS
Support 1	3246
Support 2	3236
Support 3	3221
Resistance 1	3279
Resistance 2	3289
Resistance 3	3304

Important Factor for today:-

• Yoma Strategic Holdings has received an acquisition offer of 70% of land in Pun Hlaing Golf Estate (PHGE).
• R H Energy is under the reverse takeover by Chiway Land Group to get listing on SGX.
• Olam International reported a partnership with Mitsubishi Corporation of Japan (MC) to grow its Australian grains business for the investment of US$80 million to take an 80% equity stake in Olam’s wholly-owned subsidiary, Olam Grains Australia (OGA).
• Nam Cheong sold two accommodation work barges worth US$84 million to repeat customer Perdana Petroleum BHD.
• Singapore’s inflation rose to 2.7% in May.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
ComfortDelGro	2.5	2.88	HongkongLand USD	6.58	-1.05
SIA Engineering	5.09	1.6	Ascendas Reit	2.27	-0.87
CityDev	10.35	1.07	HPH Trust USD	0.715	-0.69
Golden Agri-Res	0.565	0.89	Olam Intl	2.44	-0.41
SingTel	3.83	0.79	Global Logistic	2.66	-0.38

Malaysian Share prices opened slightly higher with KLCI up 0.34 points to 1884.300 by strengthening Ringgit against US dollar on sustained demand in local market. KLCI made low of 1882.330 and a high same as its close at 1892.330. Market moved between the ranges of almost 10.19 points.

KLCI Day Performance
Open	1884.30
High	1892.33
Low	1882.14
Close	1892.33
Change(Points)	8.370
% Change	0.44%
Volume	2007.7m
Rise	451
Fall	396
Unch	1362

Market forecast for KLCI:
Share prices movement formed a rounded bottom pattern for the last week and today’s candlestick formed a large green candle showing buyers sentiments were aggressive over sellers.

KLCI LEVELS
Support 1	1872
Support 2	1862
Support 3	1847
Resistance 1	1902
Resistance 2	1912
Resistance 3	1927

Technical indicators:
RSI stood below the centre line at 64.504 with its CCI at 203.504. Difference line of MACD performed at 4.759 which lied above its signal line which performed at 3.193.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
YTL	1.6	3.23	GENM	4.23	-0.24
ASTRO	3.56	2.3	SKPETRO	4.41	-0.23
TENAGA	12.06	1.86	GENTING	10.06	-0.2
PETGAS	24.7	1.65	PBBANK	20.14	-0.2
FGV	4.41	1.38	PETDAG	24.18	0.08

STI & KLCI Daytrading Forecast

Market Review for STI:
Consumer price inflation in Singapore picked up a little more than expected to 2.7% in May as Asian stocks supported demand and opened higher. This put an effect on SGX scrip prices which opened higher with STI up 3.37 points to 3262.17 making a high at 3265.08 with low of 3254.26. A 3257.40level is marked as today’s low.

STI Day Performance
Open	3262.17
High	3265.08
Low	3254.26
Close	3257.40
Change(Points)	-1.400
% Change	-0.04%
Volume	18337.4M
Rise	747
Fall	175
Unch	238

Market forecast for STI:
Market is continuously moving down by forming rounding top pattern having red candlesticks and today it stood at 3257.40 levels, which acted as a major support for the prices. If this level is broken then prices will fall down to the level of 3180.
Technical indicators:
RSI stood below the centre line at 42.296 with its CCI at-170.43. Difference line of MACD performed at 1.804 which lied below its signal line which performed at 8.114.

STI LEVELS
Support 1	3244
Support 2	3234
Support 3	3219
Resistance 1	3275
Resistance 2	3285
Resistance 3	3300

Important Factor for today:-

• Oil prices edged higher on escalating violence in Iraq, WTI gained 31 cents to US$107.14.
• Singapore’s Real Estate group Frasers centre point Ltd (FCL) stated to raise S$365 million (US$292 million) by listing its real estate investment trust in Singapore.
• Singapore’s agency for Science, Technology and Research (ASTAR) and New Zealand’s Ministry of Business, Innovation and Employment (MBIE) reported to jointly invest S$3.8 million for two years to boost food and nutrition research.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
Olam Intl	2.45	3.81	JMH 400 USD	60.18	-1.34
HongkongLand USD	6.65	0.76	CityDev	10.24	-1.06
Sembcorp Marine	4.05	0.5	Golden Agri-Res	0.56	-0.89
SPH	4.2	0.48	Sembcorp Ind	5.38	-0.74
Ascendas Reit	2.29	0.44	StarHub	4.23	-0.7

Market Review for KLCI:
Malaysian economy is doing well as current debt service ratio continues to be moderate and sustainable at 10.7% and it is also heading into a safe zone. Ringgit also supported on an improved demand. On that account, Malaysian shares opened lower with FBMKLCI 0.98 points to 1884.74. Market didn’t go much high but it made a low of 1881.82 level and closed at 1883.96.

KLCI Day Performance
Open	1884.74
High	1885.33
Low	1881.82
Close	1883.96
Change(Points)	-1.760
% Change	-0.09%
Volume	1769.8M
Rise	373
Fall	430
Unch	1404

Market forecast for KLCI:
Share prices movement formed a rounded bottom pattern for the last week and today’s candlestick formed a hammer pattern in red market which shows a bearish reversal for the further movement.

KLCI LEVELS
Support 1	1871
Support 2	1861
Support 3	1846
Resistance 1	1895
Resistance 2	1905
Resistance 3	1920

Technical indicators:
RSI stood below the centre line at 59.335 with its CCI at 160.83. Difference line of MACD performed at 3.848 which lied above its signal line which performed at 2.802.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
ASTRO	3.48	2.96	YTL	1.55	-1.9
IOICORP	5.24	1.16	FGV	4.35	-1.81
HLFG	15.94	0.89	MISC	6.44	-1.38
RHBCAP	8.51	0.83	SKPETRO	4.42	-1.12
TM	6.29	0.8	GENM	4.24	-0.94

FOREX Weekly Forecast by Technical Analysis

EUR/USD
The U.S. currency had the biggest weekly decline against the euro in two months as the Fed announced June 18 it will reduce monthly bond-buying while holding its interest-rate target at virtually zero.

 The pound rose for a third week as traders had the most bullish futures wagers since 2007. A gauge of currencies volatility increased from a record low. EUR/USD gains were enabled as the European Commission asserted that the Eurozone’s economic outlook is improving. The Brussels-based institution now sees the Eurozone’s economy expanding by 1.2 per cent this year, up slightly from the 1.1 per cent previously forecast. They also see the unemployment rate in the currency bloc edging to 12 per cent.
Forecast:
The EUR/USD pair broke higher during the course of the week, using the 1.35 level as support. That being the case, it looks as we continue to bounce around in this general vicinity, using the 200 pips as the range for the market right now. Long-term traders will probably avoid this market, but short-term traders will probably find it very profitable as it looks very well contained and we have very obvious support and resistance levels. However, if we do get above the 1.37 level, we feel that the market will finally go back towards a 1.40 handle. A move below the 1.35 level since this market down to the 1.33 handle.
USD/JPY
The USD/JPY ended the week at the 102 range while traders closely monitor the conflict in Iran moving to safe havens while the geopolitical situation boils over. 

In overseas trading overnight, the dollar briefly rose to around ¥102 thanks to a rise in U.S. long-term interest rates following favorable economic data, including the Federal Reserve Bank of Philadelphia’s manufacturing index for June. The dollar was later stuck in a narrow range around ¥101.85.
Forecast:
The USD/JPY pair went back and forth over the course of the week, as continue to meander in a fairly tight consolidation area. It’s a bit difficult for longer-term traders to be involved in this market, and until it break well above the 103 level, we do not see much of a trade to the long side. As far selling is concerned, we think that there is simply far too much support below to even consider it at this point in time. Ultimately, this market breaks out to the upside, but it might take a while.
GBP/USD
With the British Pound currently trading close to a five-year high against the US Dollar, news of the Federal Reserve’s policy meeting can only help enhance the Pound Sterling to US Dollar exchange rate relationship further. 

Thursday has seen the UK retail sales report fall slightly short of predictions; however it’s still lent the Pound some underlying support. The Pound is displaying stability against the US Dollar as the US Federal Reserve is currently showing no intention of increasing interest rates. The Federal Open Market Committee also dropped its initial forecast of a long term interest rate from 4-3.75%.
Forecast:
The GBP/USD pair went back and forth during the course of the week, but closed above the 1.70 handle, a significant move to the upside. That was a pretty strong barrier for us, and we believe that it opens the way to the 1.75 level as a target. It will probably take a bit of time, but we do believe that eventually that level gets hit. If we pull back from here, we would fully anticipate buyers stepping into the market and lifting the British pound yet again.
AUD/USD
The AUD/USD ended the week close to the 94 mark at 0.9383 staying strong after positive data and promises from the Chinese Premier that China will meet its growth expectations regardless of what the government needs to do. 

The currency soared after the FOMC meeting on Wednesday. The ‘Aussie’ fell from its highest level in two months against the US Dollar after peaking at 94.33, the highest level witnessed since April 10th. The Australian dollar has more than shaken off a slight dovish shift by the Reserve Bank of Australia and has not spent much time beneath 94 cents since the FOMC meeting.  It seems likely the market would at some stage like to inquire as to what kind of supply is above 94.4 cents.
Forecast:
The Australian Dollar is now expected to fall against the US Dollar at a quickening pace as the US economy improves and commodity prices fall. The AUD/USD pair went back and forth over the course of the week forming a neutral candle. This neutral candle is still within the consolidation area that we have been in for some time, thereby not really telling us much other than the pressure to breakout to the upside continues. Because of this, we believe that ultimately the Australian dollar does again, but the market has some work to do to make that happen. If we can get a move above the 0.95 handle, we believe that this market goes to the parity level given enough time.
Currency Data from 23 – 27 june

Date	Time	Currency	Impact	Particular	Forecast	Previous
Mon Jun 23	7:15am	CNY	HIGH	HSBC Flash Manufacturing PMI	49.7	49.4
	11:30am	JPY	HIGH	BOJ Gov Kuroda Speaks
	2:30pm	EUR	HIGH	French Flash Manufacturing PMI	49.6	49.6
	1:00pm	EUR	HIGH	German Flash Manufacturing PMI	52.7	52.3
	7:30pm	USD	HIGH	Existing Home Sales	4.74M	4.65M
Tue Jun 24	2:00pm	GBP	HIGH	Inflation Report Hearings
	7:30pm	USD	HIGH	CB Consumer Confidence	83.6	83
		USD	HIGH	New Home Sales	442K	433K
Wed Jun 25	6:00pm	USD	HIGH	Core Durable Goods Orders m/m	0.003	0.003
Thu Jun 26	3:00pm	GBP	HIGH	BOE Gov Carney Speaks
	6:00pm	USD	HIGH	Unemployment Claims	314K	312K
Fri Jun 27	4:15am	NZD	HIGH	Trade Balance	250M	534M
	All Day	EUR	HIGH	German Prelim CPI m/m	0.002	-0.001
	2:00pm	GBP	HIGH	Current Account	-17.1B	-22.4B

Weekly Technical Analysis For STI & KLCI

Weekly Technical view on STI
U.S. Federal Reserve’s policy statement came in the mid-month had a great impact on the market. The Great Financial Crisis of 2007-09 kicked into full-gear some six or seven years ago and caused the Straits Times Index to plummet almost two-thirds from its pre-crisis peak. Although Singapore’s share market bellwether is still 15% below its pre-crisis peak of 3,876 points reached in October 2007, the recovery these past few years has still been really strong.

As of today Japan edged higher, while Australia fell, as both markets stabilized after sharp gains in the previous session.

STRAIT TIMES WEEKLY WRAP
OPEN	3268.100
HIGH	3270.890
LOW	3258.800
CLOSE	3258.800
CHANGE (In Points)	-10.220
% CHANGE	-0.31

Market Forecast for week ahead:
STI did not performed well this week and break its lower level. We may expect that the STI may take a corrective action and may reverse a trend if the factors will be in favour but The indicators and the candlesticks are giving the indication that the bearish trend is expected to continue for the next well as well.
Technical Indicators:
RSI is above the centre line at 58.361 and CCI is at 65.515

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3230	3200	3170	3290	3300	3330

Weekly wrap of KLCI:
FBM KLCI was up 5.95 points to 1,887.43.Turnover was 164.12 million shares valued at RM1bil. SKPetro is the counter which took the credit for KLCI to move higher. The FBM KLCI fell at the midday break today in the absence of strong buying support by funds ahead of the weekend, though the KLCI made a high of 1,887.54 in intra-morning trade. Public Bank was the main drag on the KLCI as it fell 12 sen to RM20.24 after its rights shares went ex the previous day. It erased 1.21 points from the KLCI.

KLCI WEEKLY WRAP
OPEN	1885.360
HIGH	1887.540
LOW	1878.680
CLOSE	1885.720
CHANGE (In Points)	+4.240
% CHANGE	+0.23

Market Forecast for week ahead:
As per the economic conditions and the movement of market this week we may expect that it will move in uptrend and will break the higher levels. The indicators are also supportive for the uptrend movement.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1855	1825	1800	1900	1930	1960

Technical Indicators:
Relative Strength Index (RSI) is above the centre line and is at 64.295 and Consumer Confidence Index (CCI) is at 102.785.