Sample Category Title

There are two things which stand out from Easy jet's earnings: disruption caused by drones & healthy forward bookings number. This future booking number is as robust as it can be- confirming the fact that the airline is cognisant of the Brexit chaos and it has the right policies to battle the event.

If you subtract the drone effect, it becomes clear that earnings are solid. The drone event was one of its kind, we do not think you can judge the company's earning based on that. One just has to take that on the chin (£10 million loss) and move on from it.

The firm's full-year profit expectations are in line with the market outlook and this is an inspiring sign for investors (given the chaos we are dealing in the midst of Brexit). Another example of Easy jet's team executing things right comes from the fact that the company has improved its passenger number for the first quarter by improving the capacity. The passenger revenue soared by 12.1%, passenger number by 12.2% and the capacity by 18.2%. It clearly illustrates that the company is paying attention to the numbers which move the bottom line number.

Overall, the pessimism has injured the appetite for the riskier assets and this is mainly due to the IMF report in which it downgraded the global growth forecast. The report was released yesterday and the bank downgraded the global growth forecast to the feeblest point in three years. This brought investors back in the Japanese yen while Treasury yields moved lower.

In other words, investors are still under the influence of the IMF report. The outcome of the report is the reflection of Trump policies which have stalled the global economic growth. The tailwind comes from the fact that most of the central banks have pulled their support for the markets and adopted a hawkish stance. The economic numbers coming out of China confirms weakness and Trump taunting those numbers isn't the way forward. China is never going to come to the table just because of that. In fact, it encourages the government to push the People Bank Of China to initiate more accommodative policies in order to spur the growth in the country.

Investors should not be so pessimistic because of the IMF report and perhaps look at the silver lining in other areas. For instance, Citi's global earning revision index shows that the worst may be over for the companies which have been under the heavy influence of the strong dollar. If the Fed is no longer accommodative in terms of their monetary policy to support the market, their policies are not so favourable for the dollar index as well. Clearly, the dollar index is well off from its high and this could produce positive results for the US corporates in the future.

During the previous trading session, the European Single Currency trade at the 1.1360 level as it was predicted. On Monday morning, the rate was located at 1.1352.

In regards to the near-term future, most likely, the currency exchange rate will depreciate towards the ascending small pattern line and the monthly S1 at the 1.1330 mark.

Besides, it is expected that the rate will bounce off the small pattern line to trade at the 1.1340 level during the trading session on Tuesday

On Tuesday morning, the currency exchange rate was supported by the 200-hour simple moving average to trade at the 1.2864 mark.

It is expected that the British Pound will keep depreciating against the US Dollar to pass the support levels of the weekly pivot point and the 200-hour simple moving average. Besides, most likely, the rate will depreciate to the1.2800 level.

On the other side, the British Pound could appreciate against the US Dollar during today's UK Average Earnings and Unemployment Rate at 9:30 GMT to push the rate to break the resistance of the monthly R1 at the 1.2911 mark.

During Tuesday's morning hours, the currency exchange rate was trading between the 55-hour and the 100-hour simple moving averages at the 109.40 mark.

Most likely, the US Dollar will depreciate against the Japanese Yen to 109.00, passing the support levels of the weekly pivot point at 109.22 and the 100-hour simple moving average.

On the other hand, the US Dollar could take the support of the weekly pivot point and the 100-hour simple moving average to appreciate against the Japanese Yen to the 50.00% Fibo at 109.60.

During Tuesday's morning hours, the yellow metal appreciated against the US Dollar to the 1,284.00 level.

In regards to the near-term future, most likely, the gold will break the resistance of the 55-hour simple moving average at 1,284.00 to surge to the 1,288.00 level. It is expected that the 55-hour simple moving average will support the surge during the trading session on Tuesday.

However, the yellow metal could be resisted by the 55-hour simple moving average at 1,283.89 to depreciate against the US Dollar to the 1,276.00 level.

Pivot (invalidation): 54.00

Our preference Short positions below 54.00 with targets at 52.90 & 52.45 in extension.

Alternative scenario Above 54.00 look for further upside with 54.25 & 54.70 as targets.

Comment The RSI advocates for further decline.

Pivot (invalidation): 15.2800

Our preference Short positions below 15.2800 with targets at 15.1600 & 15.0900 in extension.

Alternative scenario Above 15.2800 look for further upside with 15.3600 & 15.4400 as targets.

Comment The RSI advocates for further downside.

Pivot (invalidation): 1276.50

Our preference Long positions above 1276.50 with targets at 1280.50 & 1283.50 in extension.

Alternative scenario Below 1276.50 look for further downside with 1273.50 & 1270.00 as targets.

Comment The next resistances are at 1280.50 and then at 1283.50.

Pivot (invalidation): 2636.00

Our preference Long positions above 2636.00 with targets at 2685.00 & 2710.00 in extension.

Alternative scenario Below 2636.00 look for further downside with 2623.50 & 2596.00 as targets.

Comment The RSI is mixed to bullish.

Pivot (invalidation): 11180.00

Our preference Short positions below 11180.00 with targets at 11065.00 & 11020.00 in extension.

Alternative scenario Above 11180.00 look for further upside with 11230.00 & 11270.00 as targets.

Comment The RSI is bearish and calls for further downside.