Wednesday, August 28, 2013

Daily Market Analysis – Crude Oil and Gold in Spotlight


Wednesday, August 28th 2013

With mounting tensions in Syria, those who bought Gold and Oil are the only ones smiling. A pullback does seem in order, though it would serve as an entry point to get with the larger trend. Today’s calendar is light with economic data, so traders with positions in the currencies may have to wait until tomorrow to see some volatility.  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.

EURUSD

The pair continues to straddle the upper boundary of its yearly trading range. It’s currently trading at 1.3372 with a lot of downside remains if the pairs heads lower. Price levels to watch on the downside are 1.3365 and 1.3325. If the pair breaks higher, 1.3390 is the first target followed by 1.3410.

Resistance
R1: 1.3390
R2: 1.3410
R3: 1.3425
Support
S1: 1.3365
S2: 1.3325
S3: 1.3300



 


Gold

From October 2012 until June 2013, Gold fell a precipitous 33% from a high of $1795.80 all the way down to $1182. This trend has been reversed since this past June as it has risen close to 20% to it current $1424.71. Keep an eye on the levels outlined in the support/resistance chart below.

 Resistance
R1: 1438.41
R2: 1452.20
R3: 1468.13
Support
S1: 1401.22
S2: 1394.40
S3: 1383.70



Oil

Oil has seen an extreme move in the past two months rising nearly 21% from 92.67 to today’s $112.22 high. Below is the chart of important levels to be aware of.

Resistance
R1: 110.81
R2: 111.75
R3: 113.19
Support
S1: 109.90
S2: 109.33
S3: 108.43

 


Daily Calendar for Wednesday, August 28th 2013   

Time
Currency
Event
Actual
Forecast
Previous
10:00
USD
Pending Home Sales(MoM)
 
-0.5%
-0.4%

 

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.

Monday, August 26, 2013


Daily Market Analysis – Will Markets Hold True to Form?

26/08/2013

Namely, will the markets maintain the established trading range thus far in 2013?  More specifically, we have the GBPUSD, EURUSD and the USDCHF that are testing their boundaries.  Regarding the US stock market, the last time we saw margin-debt at current levels, it was followed by a major correction to the downside. History isn’t necessarily a guide as to future events but it is a cause for caution.  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.

EURUSD

The pair is testing the upper boundary of its yearly trading reached. It reached 1.3451 last week, a 6 month high.  At 1.3372, a lot of downside remains if the pairs heads lower. Price levels to watch on the downside are 1.3365 and 1.3325. If the pair breaks higher, 1.3390 is the first target followed by 1.3410.

Resistance
R1: 1.3390
R2: 1.3410
R3: 1.3425
Support
S1: 1.3365
S2: 1.3325
S3: 1.3300






EURJPY

Over the last 8 months the EurJpy reached 133.97 and 132.73. Just yesterday saw the currency pair reach 1.3242. Its currently trading at 131.87 with price levels to watch on the upside at 132.10 and 132.75. On the downside,  prices to be aware of are 1.31.75 and  131.50

 Resistance
R1: 132.10
R2: 132.75
R3: 130.00
Support
S1: 131.75
S2: 131.50
S3: 131.25



 
GBPUSD

It’s good to be aware that the highest level reached by this currency pair in the past 6 months have been 1.5750 in early June and 1.5715 just last week. It’s currently trading at 1.5573 and caution should be exercised for those actively trading the GBPUSD.

Resistance
R1: 1.5590
R2: 1.5640
R3: 1.5720
Support
S1: 1.5560
S2: 1.5540
S3: 1.5495







S&P500

Since the beginning of the year, the S&P500 rallied an impressive 18% at the height of its uptrend. It currently stand at 1658.50 and is in an interesting position. For it to resume its uptrend, getting above 1680.00 is an important level to be aware. Breaking below 1630 could lead the way for further declines.

Resistance
R1: 1665.00
R2: 1673.60
R3: 1690.10
Support
S1: 1653.3
S2: 1644.50
S3: 1621.40

 





Daily Calendar for Monday, April 8th 2013   

Time
Currency
Event
Actual
Forecast
Previous
08:30
USD
Core Durable Goods Orders(MoM)
 
0.5%
-0.1%

 

Successful Trading!

Jacob Fendrich
Senior Market Analyst

 

Wednesday, August 21, 2013


Daily Market Analysis  – August 21st , 2013

US FOMC Day

Investors and currency traders will be eyeing the markets with bated breath as once again all of the major markets are at a near term turning point. More specifically, one of the most volatile Later today, traders will be able to see the effect of the much anticipated US FOMC meeting on the various markets. Be prepared for quite a bit of volatility around this economic event. For those interested in a more in depth analysis, we at CMTrading are here to assist those who are interested in profiting from the financial markets.

EURUSD

The market is in a precarious position right now for those trading the long side. It will need to hold above 1.3375 if it is to continue its uptrend. Below this level could see it return to 1.3330 in a hurry. The upside seems limited with its high of the last 6 months coming in at 1.3450.

Resistance
R1: 1.3430
R2: 1.3450
R3: 1.3475
Support
S1: 1.3400
S2: 1.3375              
S3: 1.3330








 GBPUSD

Holding above 1.5640 is crucial and so far so good. It bounced off 1.5649 at the markets open and is currently trading at 1.5667 with major resistance of 1.5700 looming overhead.

Resistance
R1: 1.5695
R2: 1.5730
R3: 1.5765
Support
S1: 1.5640
S2: 1.5610
S3: 1.5525

  





USDCAD

The pair has trading in a 200 pip range since mid-July. It’s currently near the top of its range at 1.0428. There is major resistance overhead at 1.0443 and the pair will need to stay above 1.0400 to maintain its uptrend.

Resistance
R1: 1.0425
R2: 1.0445
R3: 1.0475
Support
S1: 1.0415
S2: 1.0375
S3: 1.035




Gold

Shifting our analysis from the currencies, we can see that Gold has moved up quite a bit since reaching $1180.28 in late June.  Its currently at $1367.04, right around its next level of resistance at $1382.80.

Resistance
R1: 1369.16
R2: 1376.83
R3: 1380.76
Support
S1: 1360.44
S2: 1355.70
S3: 1352.70


 
 Daily Calendar for Wednesday, August 21st
 
Time
Currency
Event
Actual
Forecast
Previous
10:00 EST
USD
Existing Home Sales
 
5.15M
5.08M
14:00 EST
USD
FOMC Meeting Minutes
 
 
 

 

Successful Trading!



     Jacob Fendrich
     Trading Coach
     T: + 44 203 150 1431 ext. 201 
      F: + 44 203 150 1769