Market Commentary -
US DX
91.734 +0.375 +0.48%
US DX now looking to test the key weekly resistance at 92.53. Support is the 10-day moving average crossing at 90.50 and further support is the 20-day moving average at 89.73. Last week's profit taking on the Dollar has not dented the upwards inclination.
EUR/ USD
1.189950 -0.005315 -0.44%
The strong support area that lie between 1.2043 (24/07/2012 low) and 1.1877
(07/06/2010 low) is now strongly challenged with a bias towards a continued slide of the Euro. . The next key supports can be found at 1.1640 (15/11/2005) and 1.0765 (03/09/2003 low) with key resistance at 1.2252 (25/12/2014 high).
Crude Oil
48.03 -2.01 -4.02%
The monthly support at 43.77 is the next downside target. a low has not yet been confirmed. any closes above the 20-day moving average crossing at 57.00 are needed. But the market looks more likely to continue it's slide towards the 43.
Gold
1219.245 +14.295 +1.19%
The recent bounce in Gold suggests some seasonal commercial buying interest as well as short covering for the end of year. However Gold is expected to resume it's slide. Supports are at 1168 (02/01/2015 low) and 1143 (01/12/2014 low) and resistances are at 1238 (10/12/2014 high).
Pieter Bergli - DeLoren Trust Holdings
Forex education for all
Disclaimer - U.S. Government Required Disclaimer - Commodity Futures Trading Commission
Futures
and Options trading involves risks of losses. No representation is
being made that any reader and account will or is likely to achieve
profits or losses similar to those that are being discussed on this blog
http://forexeducationperspective.blogspot.com/. The past performance of
any trading system or methodology discussed is not necessarily
indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR
SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL
PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING.
ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE
UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET
FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN
GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE
BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT
WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All
trades, patterns, charts, systems, etc., discussed in this blog
http://forexeducationperspective.blogspot.com/ are for educative and
illustrative purposes only and not to be construed as specific advisory
recommendations for actual trades. Disclaimer -
http://forexeducationperspective.blogspot.com/ bears no responsibility
for the trading actions of its readers.
