Crude oil price provided more bearish bias yesterday to record new bottom level that reached $36.62 level.

Comex Market Updates : Crude oil price provided more bearish bias yesterday to record new bottom level that reached $36.62 level.

Technical - Levels

OVERVIEW :

Crude oil price provided more bearish bias yesterday to record new bottom level that reached $36.62 level. The fact that market broke down below there indicate that market are continue going to lower. We will keep our main bearish trend expectation, supported by the negative pressure that comes from EMA50. Momentum of MACD (moving average convergence divergence) still generating a sell signal. On its 4 hourly chart, Resistance is seen near the SMA20 at $39.00, while support is seen near the at $35 level. Fundamentally oil market oversupplied, reluctance by the OPEC nations to cut its oil output, rising inventories in the US, warmer than normal weather in the US will result in lower demand for crude and its variants. Hence, oil prices will trade lower in today’s session. 

                                           

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Crude oil prices rose by around 9 percent last week.

Today's Chart: CRUDEOIL 

Overview :

Crude oil prices rose by around 9 percent  last week. After hitting the psychological level of $50 and remain stable above the EMA50. Support is seen near a  vertical down ward trend line and resistance level  at $49.03, while resistance is seen near a EMA200  level at $51.94. Expected trading range for today $49.03 support level and $51.94 resistance level. On an intra day basis, we expect the positive momentum to continue the short term bearish trend. On the upside resistance level at $50.11, if market break this resistance level upside breakout is expected with potential target of $51.54

Technical- Levels

	R2	R1	S1	S2
Gold	1186	1171	1159	1149
SILVER	16.24	16.11	15.73	15.52
CRUDE OIL	53.17	51.14	47.45	45.67
COPPER	2.4693	2.4419	2.3863	2.3507
NATURAL GAS	2.614	2.564	2.492	2.453
PLATINUM	1003	996	976	965
PALLADIUM	742	721	700	683

Five Points which can drive markets early this week

The market hasn't made any big moves so far but a few are beginning to brew

1. Yen strength
2. GBP strength
3. Oil weakness
4. Bonds bid
5. China worries, China stimulus

The market hasn't made any big moves so far but a few are beginning to brew:
1. Yen strength
This is all about negative sentiment in stocks. USD/JPY is down 27 pips. The Nikkei finished the morning session down 1.14%, Shanghai stocks are down 0.54% and S&P 500 futures are down 0.4%. Earlier I wrote about why stock markets could fall early this week.

2. GBP strength
The pound is keeping pace with the yen, up about 20 pips. But let's put that into perspective; since the high on September 18, cable has been in a 6 day, nearly 500 pips swoon. A 20 pip bounce doesn't even qualify as a dead cat bounce. I highlighted some levels earlier.

3. Oil weakness
All else being equal, sell oil. Crude is down about 1%. Rig count numbers on Friday were bullish but a small bounce was wiped out quickly. Earlier last week, inventory numbers were bullish but a bounce was wiped out within hours and oil finished way down. At some point this year, oil storage capacity will max out and it will be dumped onto the market at any price.

4. Bonds bid
Bonds are catching a small bid, pushing 10-year US yields down 2 bps in early trading. There was talk of a China bid but it's also part of the risk aversion theme.

5. China worries, China stimulus
Two stories out of China early this week. The first is a plunge in industrial profits (negative) but the second is about fresh stimulus (potentially very positive). The second story hasn't gotten much traction yet but I think it could.


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Gold inches higher, but struggles to shine

Technical - Levels

	R2	R1	S1	S2
Gold	1148	1130	1109	1097
SILVER	14.96	14.75	14.44	14.23
CRUDE OIL	47.12	45.93	43.82	42.11
COPPER	2.436	2.410	2.372	2.308
NATURAL GAS	2.712	2.693	2.635	2.612
PLATINUM	1035	1002	977	967
PALLADIUM	1014	591	568	558

Overview :

Gold futures traded modestly higher Tuesday as investors looked ahead to the Federal Reserves’s policy meeting next week, which could determine the direction of the dollar and dollar-denominated commodities like gold.

Gold for December delivery was marginally higher, gaining $1, or about 0.1%, at $1,122.10 an ounce, after swinging between small gains and losses in early Tuesday action.

The precious metal has been down nine of that past 11 sessions and hasn’t drawn much of a bid in recent weeks on the expectation that the Fed may raise interest rates for the first time since 2006. Interest-bearing assets like Treasurys have diminished the appeal of gold, which doesn’t bear any interest, while anticipation of a near-term rate increase has dulled expectations for gold.

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European stocks reversed earlier losses to close higher Wednesday

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European stocks reversed earlier losses to close higher Wednesday, with worries about an economic slowdown in China offset by a strong open on Wall Street. France's CAC 40 was up by 13.76 points to 4,554.92 and Germany's DAX 30 gain 32.48 points to 10,048.05. FTSE 100 also managed to close at 6,083.31 with net gain of 24.77. US stocks ended higher on Wednesday, rebounding from two days of losses. The Dow Jones 30 gain 293.03 points to 16,351.38, while the S&P 500 and the Nasdaq 100 also gain 35.01 and 113.90 points to 1,948.86 and 4265.23 respectively. Asian markets traded on mix today. Japan’s Nikkei 225 which is only index traded on green note and up by 148.23 points to 18,243.63. Other Asian index like Hong Kong’s Hang Seng 50 Index is off today and Australia’s S&P/ASX 200 closed at negative note.

Index	Value	Net Change
Dow30	16,351.38	+293.03
S&P500	1,948.86	+35.01
NASDAQ100	4256.23	+113.9
DAX 30	10,048.05	+32.48
FTSE100	6,083.31	+24.77
CAC 40	4,554.92	+13.76
Nikkei225	18,243.63	+148.23
S&P/ASX200	5,041.50	-59.96
Hang Seng50	20,934.94	0.00

SUMMARY:

Major trend of Dow Jones 30 is bearish on daily charts. It has given upside recovery in last week trading session. It is again showing good recovery from lower level. It is likely to give northward movement in upcoming session as it has give closing below 50 DMA and trading with resistance of 200 DMA on hourly chart. On lower side it has support level of 16100. If it manages to sustain above 50 DMA and gives break out above 200 DMA then it would bring a strong confidence to reach 16700. Currently it is having resistance of 16400.

INDICATOR:-

RSI is about to cross up the 50 mark on hourly chart time frame. On ADX is likely to move up with strong accumulation on chart. ADX trading above 35 mark. If it sustain above the same then index would come in positive territory with positive DI has crossed up negative DI . 

GBPUSD Is Bullish | Free Forex Signals | Currency Trading

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TARGET 1.5800

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SUMMARY:

The secondary trend of GBPUSD is sideways on charts. In its daily chart, the pair is consolidating with strong positive bias to give break out at upside. Its 30 and 200 DMA are also supporting the further uptrend in the prices. If it breaks the level of 1.5730 & sustains above it then we can expect it to come up to the levels of 1.5770/1.5800  in next few days.

GBPUSD Chart Today

INDICATORS:-

RSI - Prices are sustaining in buying teritorry, supporting the upside movement in the market.
MACD is also sustaining above the zero line indicating the upside movement in the market.

STRATEGY: 

GBPUSD is looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions.



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EUR/GBP Is Bullish For Next Few Sessions | Free Forex Signals | Currency Trading

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Today we are sharing EUR/GBP Currency Trading Signals.  

DAILY FOREX SIGANALS

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TARGET : 0.7170

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EURGBP ( 4 HOURLY )

EUR/GBP CHART TODAY

SUMMARY:

The secondary trend of EURGBP is sideways on charts. In its 4 hourly chart, the pair is  sustaining below its falling trend line and consolidating with strong positive  bias to give break out at upside. Its 30 and 200 DMA are also providing support to the upside movement in the prices. If it crosses its resistance level of 0.7100 then we can expect it to come up to the levels of 0.7140/0.7170  in next few days.

INDICATORS:

RSI - Prices are sustaining in buying teritorry, supporting the up side movement in the market.

MACD line is also sustaining above the zero line indicating the upside movement in the market.

STRATEGY: 

EURGBP is looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions.

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USD/JPY Looking Bullish | Free Forex Signals | Currency Trading

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SUMMARY:

The primary trend of USDJPY is bullish on charts and from past few trading sessions, the pair is successfully sustaining at higher levels. In its 4 hourly chart, the pair is consolidating with strong positive bias to continue its up rally. Its 30 and 200 DMA are also supporting the upcoming bullish trend in the pair. It is facing an important resistance at the level of 124.62. If it breaks its resistance level at upside then we can expect it to test the level of 125/125.40.

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USDJPY ( 4 HOURLY )

USD/JPY Chart Today

INDICATORS:-

RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair. 
MACD line is sustaining in buying territory supporting the upcoming bullish trend in the pair.

STRATEGY: 

USDJPY is looking bullish on charts for next few trading session. One can go for buy on dips strategy for this pair for intra day to mid term positions.


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GBP/USD Is Bullish On Charts | Daily Forex Signals | Weekly Reports

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Today we are sharing GBP/USD Currency Trading Signals. 

Daily Forex Signals

SUMMARY:

The secondary trend of GBPUSD is sideways on charts. In its 4 hourly chart, the pair is consolidating with strong positive bias to give break out at upside. Its 30 and 200 DMA are also supporting the further uptrend in the prices. If it breaks the level of 1.5690 & sustains above it then we can expect it to come up to the levels of 1.5740/1.5780  in next few days.

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GBPUSD ( 4 HOURLY )

GBPUSD Weekly Chart

INDICATORS:-

RSI - Prices are sustaining in buying teritorry, supporting the upside movement in the market.
MACD line is also sustaining above the zero line indicating the upside movement in the market.

STRATEGY:- 

GBPUSD is looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions.



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USDCHF Is Buliish On Charts | Free Forex Signals | Currency Tradng

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SUMMARY:

The primary trend of USDCHF is bullish on charts and from past few trading sessions, the pair is successfully sustaining at higher levels. In its hourly chart, the pair is consolidating with strong positive bias to continue its up rally. Its 30 and 200 DMA are also supporting the upcoming bullish trend in the pair. It is facing an important resistance at the level of 0.9635. If it breaks its resistance level at upside then we can expect it to test the level of 0.9680/0.9715.

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USDCHF ( HOURLY ) :

USDCHF Chart Today

INDICATORS:-

RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair. 
MACD line is sustaining in buying territory supporting the upcoming bullish trend in the pair.

STRATEGY: 

USDCHF is looking bullish on charts for next few trading session. One can go for buy on dips strategy for this pair for intra day to mid term positions.



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EURUSD Is Sideways On Charts | Free Forex Signals | Currency Trading

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Today we are sharing EUR/USD Currency Trading Signals. 

SUMMARY:

The secondary trend of EURUSD is sideways on charts but from past few trading sessions prices are not sustaining at higher levels. In its 4 hourly chart, prices are consolidating with strong negative bias to give break out at downside. Its 30 and 200 DMA are also providing resistance to the prices & supporting the further downtrend. The pair is taking support at an important level of 1.0965. If it breaks its support level & sustains below it then we can expect it to come down to the levels of 1.0905/1.0870  in next few days.

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EURUSD ( 4 Hourly )

EURUSD Chart Today

INDICATORS:

MACD is sustaining in selling territory, supporting the further down side movement in the market.

STRATEGY: 

EURUSD is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.

PIVOT POINTS :

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.0894	1.0944	1.0995	1.1045	1.1096	1.1146	1.1197
GBP/USD	1.5442	1.5486	1.5546	1.5590	1.5650	1.5694	1.5754
USD/JPY	120.66	121.19	121.88	122.41	123.10	123.63	124.32
USD/CHF	0.9323	0.9363	0.9395	0.9435	0.9467	0.9507	0.9539
AUD/USD	0.7364	0.7406	0.7453	0.7495	0.7542	0.7584	0.7631
EUR/GBP	0.7009	0.7039	0.7061	0.7091	0.7113	0.7143	0.7165
USD/CAD	1.2493	1.2528	1.2595	1.2630	1.2697	1.2732	1.2799
NZD/USD	0.6604	0.6635	0.6653	0.6684	0.6702	0.6733	0.6751

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EURCAD Is Bullish On Charts | Free Forex Signals | Currency Trading

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Today we are sharing EUR/USD Currency Trading Signals.

SUMMARY : 

The primary trend of EURCAD is bullish on charts. In its hourly chart, prices are successfully sustaining at higher levels and consolidating with strong positive bias to continue its up rally. Its 30 and 200 DMA are also providing support to the upward movement in the prices. If it crosses its resistance level of 1.3965 then we can expect it to come up to the levels of 1.3995/1.4035  in today's trading session.

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EURCAD ( Hourly ) :

EURCAD Chart Today

INDICATORS:

MACD is sustaining in buying territory, supporting the upside movement in the market.
RSI is sustaining in buying territory, supporting the upside movement in the market.

STRATEGY: 

EURCAD is looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions.


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