Thankfully my expectations for a quiet week in the markets because of the US holiday have been proven otherwise. Across the board, all of the major markets have been showing quite a bit of volatility – not just the currencies, but the indices and commodity markets as well.  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.

EUR/USD

After straddling the upper boundary of its yearly trading range, the pair has finally began to see a sizable correction. It’s currently trading at 1.3212 with price levels to watch on the downside at 1.3190 and 1.3175. If the pair breaks higher, 1.3225 is the first target followed by 1.3255

RESISTANCE	R1:  1.3225	R2:  1.3255	R3:  1.3280
SUPPORT	S1:  1.3190	S2:  1.3175	R3:  1.3190

GBP/USD

After closing last week’s trading at 1.5495, the pair has jumped up to 1.5593. Price levels to watch on the upside are 1.5600 and 1.5640 and on the downside targets remain at 1.5570 and 1.5545.
 

RESISTANCE	R1:  1.5600	R2:  1.5640	R3:  1.5705
SUPPORT	S1:  1.5570	S2: 1.5545	R3:  1.5500

AUD/USD

This is another pair that should be on your radar. Closing last week at near lows for the month of .89001, the currency reached at high of 0.9013 in today’s trading session. It’s currently trading at .89911 with targets on the upside at .9020 and .9050. Targets on the downside are at .8995 and .8960. In overnight trading, the Reserve Bank of Australia will be making an interest rate decision – an event sure to have a major effect on the currency pair.

RESISTANCE	R1:  .9020	R2:  .9050	R3:  .9095
SUPPORT	S1:  .8995	S2:  0.8960	R3:  0.8895

 

 

 S&P500

After reaching a high of 1704.13 to start the month, the index reached low of 1624.13 on August 28th. It's currently trading at 1645.38 with targets on the upside at 1656.00 and 1666. Targets on the downside are 1641.38 and 1625.00.

RESISTANCE	R1:  1656.00	R2:  1666.00	R3:  1676.30
SUPPORT	S1:  1641.38	S2:  1625.00	R3:  1616.75

 

 

Daily Calendar for Wednesday, September 2nd, 2013   

Time	Currency	Event	Actual	Forecast	Previous
21:30	AUD	Retail Sales(MoM)		0.4%	0.0%

 

 

 

 

 

 

 

 

Daily Market Analysis – Crude Oil and Gold in Spotlight

Wednesday, August 28^th 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.

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 8^th 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