Market Commentary -
US DX
91.932 -0.383 -0.49%
The US DX fell slightly on friday due to the end of week profit taking and concern on news events in Paris surrounding the terrible attacks. The market is overbought for now but long term serious declines are not expected rather a consolidation phase for the attempted push through the 94.32 is seen as the next phase with the US DX. Strong support is seen at 91.33 and 90.35.
EUR/ USD
1.18400 +0.00319 +0.27%
EUR rise today was not due to any chances in downward technical inclination. Traders covered their shorts and closed positions for profit taking. The EUR is expected to challenge the key support over the next 2 weeks being the 117.61 and further support at 116.61.
Crude Oil
48.16 -0.63 -1.29%
The
CL is now deeply oversold. Strong support lies ahead as wednesday's low at 46.83 with further strong at the monthly support at 43.77.
Gold
1223.260 +10.575 +0.87%
Gold has seen some decent bounce the last few sessions but it remains to be seen if this modest climb can shape itself into a serious momentum for an upwards push. Resistance at 1223.30 has not quite given way yet but if it does next week then it would take a serious test of the December high at 1239.00 to convince the big specs to pile in for a bull run. On the other hand it would take a drop to last Friday low at 1167.30 to revive opinion that a downward slide is on the cards. The market is fairly neutral at the moment searching for new direction.
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.
