Forex Market Commentary
The USDX is increasingly looking fragile as currency pairs erode gains in tiny steps with the Eur pushing at the 1.12 right now. but the rally is stalling awaiting further reports over the US economy as a whole. Dow took a plunge on Tuesday trading whilst the bond
markets seriously got rattled. Crude oil futures hit 62 dollars for the WTI
front end on the Nymex. The rise in oil prices was attributed to the weaker
dollar. But it must be noted that increasingly the specs are starting to look
Bullish and that augurs another move should us economic data continue to
demonstrate sluggish numbers. An interesting figure will be when the U.S.
government's Energy Information Administration will issue official stockpiles
data on Wednesday. Traders feel that the
glut in US crude oil markets is about to abate.
Bloomberg put together an interesting article on the slump in the bond markets pointing out that as much as 340 billion Us dollars have been wiped out last week alone from bond portfolios worldwide due to increasing yields. Please read -
http://www.bloomberg.com/news/articles/2015-05-05/bond-damage-tally-340-billion-lost-as-slump-put-in-perspective
Please note that technical data should only be used as a guide but be aware that it is the fundamental data which becomes the trigger that pushes prices into equilibrium of demand and supply.
Always look to support and resistance band lines as the key to understanding in the long and short term where prices are converging. Professional technical traders use 50 day and 200 day medium and slow moving averages as fundamental cornerstones for interpreting the direction of price action.
USDX
95.103 -0.032 -0.04%
Support 94.331 Resistance 96.531
Forward 1 year - 96.368. Low growth positive line.
Forward 1 year - 96.368. Low growth positive line.
EUR
1.118435 +0.004140 +0.37%
Support 1.10103 Resistance 1.13243
Forward 1 year - 1.12970. Low growth positive line.
Crude Oil
60.90 +0.50 +0.85%
Support 57.57 Resistance 62.51
Forward 1 year - 64.7. Medium growth positive line.
Forward 1 year - 64.7. Medium growth positive line.
Gold
1194.505 +5.950 +0.50%
Support 1,178.1 Resistance 1,206.9
Forward 1 year - 1,199.1. Flat line.
Pieter Bergli - DeLoren Trust Holdings
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Forex market commentaries and media reports for free
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
Pieter Bergli - DeLoren Trust Holdings
A non-profit commitment to provide education on the properties of currency markets
Forex market commentaries and media reports for free
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
