KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5297 during European morning trade, the pair’s highest since February 6; the pair subsequently consolidated at 1.5283, adding 0.19%.Investors remained cautious following reports the European Commission could propose a six-month extension to Greece’s existing bailout program at an emergency meeting of the euro group of finance ministers, due to take place later in the day.Athens is expected to ask for a bridge loan to cover its funding needs until September, and to also propose new economic reforms to replace some of the harshest austerity conditions attached to its bailout.However, German Finance Minister Wolfgang Schaeuble dampened hopes Wednesday morning, by saying there are no plans to discuss a new agreement.

INTRADAY OUTLOOK
Support: 1.5266
Resistance: 1.5325

RECOMMENDATION:
1. Buy GBP/USD Above 1.5327-TG: 1.5347/1.5377 SL 1.5297
2. Sell GBP/USD Below 1.5264-TG: 1.5244/1.5214 SL 1.5294

INTRADAY OUTLOOK
Immediate Support: 1.1261
Immediate Resistance: 1.1334

RECOMMENDATION:
1. Buy EUR/USD Above -1.1336 TG: 1.1356/1.1386 SL 1.1306

2. Sell EUR/USD Below -1.1259 TG:1.1239/1.1209 SL 1.1289

KLSE Stock Recommendations

MARKET UPDATES :

The FBM KLCI index lost 0.46 points or 0.03% on Tuesday. The Finance Index increased 0.23% to 15915.65 points, the Properties Index dropped 0.28% to 1305.23 points and the Plantation Index down 0.06% to 8013.23 points. The market traded within a range of 7.93 points between an intra-day high of 1816.62 and a low of 1808.69 during the session.




STOCK RECOMMENDATION :

BUY FELDA GLOBAL ABOVE 2.505 TARGET 2.540 2.600 SL 2.450

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices eased in early Asia on Thursday with events surrounding Greece in sharper focus and the implications for euro zone stability. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery eased 0.08% to trade at $1,219.90 a troy ounce.Prices were supported amid speculation of further monetary easing from the People’s Bank of China following Tuesday’s lower-than-expected inflation data. Investors were also looking at a bump from seasonal physical gold demand ahead of the Chinese New Year holiday and any stockpiling of copper ahead of a week-long break.Overnight, gold inched up modestly in cautious trade on Wednesday, as Greece’s Finance Minister Yanis Varoufakis was to meet with other finance ministers of the euro zone later in the day to discuss a solution to Greece’s bailout program.



TRADING STRATEGY :

BUY GOLD ABOVE 1224 TARGET 1229 1235 SL 1218
SELL GOLD BELOW 1216 TARGET 1211 1205 SL 1222

Euro jumps on report of Greek bailout accord ‘in principle’

The euro surged against the dollar late Wednesday after a CNBC report indicated that Greek and European Union officials have reached an agreement “in principle” on a plan to rework the country’s bailout.

The euro EURUSD, -0.20% traded at $1.1354, its highest level in two sessions, after trading in a tight range around the $1.13 level during Wednesday’s session.

The dollar USDJPY, -0.16%  traded at ¥120.41, its highest level since the closing compared with ¥119.35 late Tuesday.

The pound GBPUSD, -0.12%  traded flat against the dollar and euro at $1.5250 and £0.7420 EURUSD, -0.22%

The euro traded flat against the dollar at $1.1315.

The ICE U.S. Dollar Index DXY, +0.03% a measure of the greenback’s strength against a basket of six rival currencies was 0.2% stronger at 94.9530.

Platinum Market Update

March silver SIH5, -0.54%  fell 11 cents, or 0.7%, to $16.76 an ounce.

Platinum for April delivery PLJ5, -0.06%  fell $11.70 to end at $1,195.60 an ounce, while March palladium PAH5, +0.42% tacked on 85 cents to $766.55 an ounce. High-grade copper for March delivery HGH5, +0.24%  closed down by about a penny at $2.541 a pound.