"Apple" is becoming more attractive to investors

Good morning! Happy Monday to all!
On the news front – it goes without saying that on Friday everyone was watching out for traders’ second paycheck, aka Non-farm Payrolls. The data were disappointing. Against a forecast of 185,000, the number was 138,000, which triggered a fall in the dollar exchange rate in relation to other currencies. Again, we see dissonance with ADP’s data – according to ADP, the number of jobs increased by 253,000.
The US foreign trade balance was published at the same time as the Nonfarm Payrolls. The balance was negative as always – for April it was -$47.6 billion.
Today the most significant statistics include the services PMI, which comes out in the UK at 8:30 am GMT and the ISM non-manufacturing composite index, which will be published at 2:00 pm GMT in the United States.
Stocks
We usually don’t expect any significant corporate reports on Mondays. The Dow Jones managed to rise and close the trading week at 21,206.29, adding 0.29%. We anticipate that there may soon be a technical bounce off the high. In any event, we advise waiting for confirming signals before opening short positions. The MACD and the top down crossing of the 9-EMA can serve as confirmation.
Apple surged upward on Friday. On the daily charts the breakthrough of the 9-day EMA on June 1, 2017, therefore turned out to be false. The upper Bollinger Band has reversed top down, but we still see no strong confirmation of a down signal. On the monthly charts, a dodge has formed on candlestick charts, warning of a possible reversal. The stock may move to the lower Bollinger Band, to $150 (on the daily charts). Tushara Chanda’s Aroon Up moved down on the daily timeframe. We think that traders will prefer to wait for a top down crossover of the moving average before opening shorts.
Noteworthy from the company’s corporate news is that it recently ended its collaboration with the UK’s Imagination Technologies, which designed the graphic chips for Apple processors. Apple is therefore cutting costs, planning to develop its own GPU. This can be seen as good news for investors.
Currency Market
On the monthly charts the CAD/CHF pair formed an inverted bearish flag, testing the lower boundary of an ascending price channel. According to technical analysis, the daily charts are indicating that price is returning to the moving average at 0.7200. If this scenario pans out, it may be possible to re-open short positions as the decline continues. An aggressive scenario therefore assumes trading against the basic trend right down to the resistance. Cautious traders might wait for the bounce to open downward.
The AUD/JPY fell to the support, which is a 50% Fibo correction from the growth wave since September 16, 2016 – 75.86. One of the scenarios according to Elliott’s wave theory is that the pair is in the second trend impulse wave. If that is the case, a third wave just might form. If not, the decline may continue. The next target might be 80.58 yen per Australian dollar, which is a 61.8% Fibo correction.

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