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Future Technical & Fundamental Analysis Recap

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Jul 7, 2009.

  1. futuretrends24

    futuretrends24 New Member

    Apr 30, 2009
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    Today’s sample of Futures Analysis from FuturesHound.com

    Equity markets reversed an early trend to post a closing price reversal to the upside. This was more of a trading maneuver as traders are likely to try to drive these markets higher in an effort to sell at a better price. Trading could volatile the next two days as traders await the first round of earnings reports. The September S&P 500 is likely to follow-through to the upside with a test of a retracement zone at 905.00 to 910.50 the next upside trade.

    August Gold felt downside pressure from the get-go as the stronger Dollar and lower commodity prices diminished the need to hold gold as a hedge against inflation. The lack of follow-through to the down side is an indication that there may be one more rally before this contract begins another leg down. Look for 929.80 to act as a pivot while trades gather information for the next major move.

    November Soybeans finished the day sharply lower as the down trend continued following a rally late last week. Fundamentally this market is weak because of news from the USDA that the crop will be bigger than previously estimated. The rally late last week was triggered by news that Argentina would halt the sale of grains because of last year’s drought. This sent signals to traders that U.S. exports would rise because of increased global demand. Today’s break was triggered by a stronger Dollar.

    The September British Pound declined hard on Monday on rumors the Bank of England would increase its quantitative easing program to $40 billion. The main trend turned down on the trade through the last swing bottom at 1.6187 but could not accelerate to the down side as this pair reached a technically oversold area.

    Based on the first leg down from 1.6743 to 1.6094, traders should look for a selling opportunity on a rally back to 1.6419. If resistance is found at this price then the next move down should take the Pound to at least 1.5770.

    Read full article at Futureshound.com as well as Futures Analysis, Futures Education and exclusive timely market Gann Analysis

    Disclaimer: Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.

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