Monday, March 18, 2013

Daily Market Analysis – Large Number of Potentially Profitable Trades

Whether currencies are your focus or the indices or the precious metals, there are tremendously profitable opportunities available for the taking among all of these markets.  For those interested in a more in depth analysis, we at CM trading are here to assist those who are interested in profiting from the financial markets. Below are the charts and the day’s economic events to better understand the current short term trends in some of the different markets.

After closing last week’s trading at 1.3074 at, the pair has dropped like a rock reaching 1.2881. It’s currently trading at 1.2963. Price levels to watch on the downside are 1.2880 and 1.2845. If the pair breaks higher, 1.3005 is the first target followed by 1.3045. 

R1: 1.3005
R2: 1.3045
R3: 1.3103
S1: 1.2880
S2: 1.2845
S3: 1.288


Today saw an explosive move in the EURJPY. From Friday’s close of 1.2455, it fell nearly 300 pips to 1.2163. The pair now stands at the 1.2310 level with its first downside target at 1.2165 followed by 121.20. On the upside, the first target is 1.2330 followed by 1.2480.

R1: 123.30
R2: 124.05
R3: 124.80
S1: 1.2165
S2: 121.20
S3: 120.30


After reaching 1.6379 to start the year, the pair has fallen a devastating 1500 pips to 1.4829 on March 12. It’s retraced some of the decline to its current level of 1.5134. Targets on the upside are 1.5175 followed by 1.5230. On the downside, targets are 1.5070 and 1.4975.

R1: 1.5175
R2: 1.5230
R3: 1.5320
S1: 1.5070
S2: 1.4975
S3: 1.4910



Gold appears to have reached its retracement target, hitting $1620 on February 26th. It’s been trading sideways over the past several weeks and is currently at $1604.   If gold heads lower, price levels to watch are $1586.25 and $1578.37.

R1: 1605.00
R2: 1608.72
R3: 1623.03
S1: 1586.25
S2: 1578.37
S3: 1560.70


Daily Calendar for Friday, March 18th 2013   
RBA Assist Gov Lowe Speaks

Monetary Policy Meeting Minutes

Successful Trading!

Jacob Fendrich
Senior Market Analyst
Risk Warning: Contracts for Difference (CFDs)  and foreign exchange products are leveraged products and may not be suitable for everyone. They are highly speculative and involve a significant risk of loss. Please ensure that you fully understand the risks involved. More information can be found from our "Risk Disclosure" statement. . The content offered in this email is for information purposes only and should not be interpreted as a solicitation to offer purchase or sale of any financial instrument. The information on which this communication is based has been obtained from sources we believe to be reliable, but we do not guarantee its accuracy or completeness. All expressions of opinion are subject to change.

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