| 50% | 50% |
Friday 17th May 2013
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ENERGY |
US OIL closed higher on Thursday and the midrange close sets the stage for a steady opening when Friday's night session begins. Stochastics and the RSI are turning bearish signalling that sideways to lower prices are possible nearterm. If it extends this month's decline, November's low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.
NATURAL GAS closed sharply lower on Thursday. The lowrange close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that additional gains are possible nearterm. If it extends the rally off January's low, weekly resistance crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
Friday 17th May 2013
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FX - EURO |
The EURO closed lower on Thursday and the midrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near term. If it extends this month's rally, the 50% retracement level of the FebruaryApril's decline crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
Friday 17th May 2013
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FX - YEN |
The YEN closed higher on Thursday and the midrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI have turned bullish signalling that sideways to higher prices are possible nearterm. Closes below the 10day moving average crossing are needed to confirm that a high has been posted.
Friday 17th May 2013
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FX - SWISS FRANC |
The SWISS FRANC closed hlower on Thursday and the midrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible nearterm. If it extends last week's decline, the 50% retracement level of the FebruaryMarch rally crossing is the next downside target.
Friday 17th May 2013
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FX - STERLING |
STERLING closed higher on Thursday and the midrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off March's low, the 50% retracement level of this year's decline crossing is the next upside target.
Friday 17th May 2013
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BULLION - GOLD |
GOLD closed lower on Thursday and the midrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI have turned bearish signalling that additional weakness is possible nearterm. If it extends the decline off last October's high, the 62% retracement level of the 20082011 rally crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted.
Friday 17th May 2013
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BULLION - SILVER |
SILVER closed higher on Thursday and the highrange close set the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are likely nearterm. If it extends the aforementioned decline, monthly support crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
Friday 17th May 2013
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INDICIES - US 30 |
US30 Index CFD closed lower on Thursday and the lowrange close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are turning neutral to bearish signalling that a shortterm top might be in or is near. Closes below the reaction low crossing are needed to confirm that a shortterm top has been posted. If the Dow extends the rally off November's low into uncharted territory, upside targets will be hard to project.
Friday 17th May 2013
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INDICIES - US 100 |
US 100 Index CFD closed lower on Thursday and the lowrange close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. Closes below the reaction low crossing are needed to confirm that a shortterm top has been posted. If it renews the rally off November's low, September's high crossing is the next upside target.
Friday 17th May 2013
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INDICIES - US 500 |
US 500 Index CFD closed lower on Thursday. The lowrange close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are bearish hinting that a shortterm top might be in or is nea. Closes below the reaction low crossing are needed to confirm that a shortterm top has been posted. If it renews the rally off November's low, weekly resistance crossing is the next upside target.
Friday 17th May 2013
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COMMODITIES - US COFFEE |
US COFFEE CFD closed lower on Thursday and the midrange close sets the stage for a steady opening on Friday. Stochastics and the RSI are bullish hinting that a low might be in or is near. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted. If it renews the decline off January's high, weekly support crossing is the next downside target.
The information set forth herein was obtained from sources which we believe to be reliable, but its accuracy cannot be guaranteed. It is not intended to be an offer, or the solicitation of any offer, to buy or sell the products or instruments referred herein. Any person placing reliance on this commentary to undertake trading does so entirely at their own risk.
On 15th June 2011, around 08:00 GMT, the price of EURUSD was at 1.43200 (bid) – 1.43220 (offer).
You believe the Euro will weaken against the dollar so you take a sell position with a trade size of 100,000 EUR ($10 per tick, 1 tick is 0.0001), at the bid price of 1.43200.
During the day, the Euro does fall against the dollar and by 20:00 GMT, the price had dropped to 1.41700 (bid) – 1.41720 (offer).
You decide to realize the profit on this trade and you close your position at the offer price of 1.41720. So, the value of 1 Euro had effectively dropped from 1.43200 to 1.41720, a difference of $0.01480. As the size of your position was 100,000 EUR, your realised profit is equal to $0.0148 X 100,000 = $1,480.
On 15th June 2011, around 10:00 GMT, the price of GBPUSD was at 1.62900 (bid) – 1.62930 (offer).
You believe the British Pound will strengthen against the dollar so you take a buy position with a trade size of 100,000 GBP ($10 per tick, 1 tick is 0.0001), at the offer price of 1.62930. You place a guaranteed Stop/Loss when you opened the trade at the level of 1.62430, ($500 maximum risk).
During the day the British Pound drops against the dollar and by 18:00 GMT, the price has fallen to 1.61800 (bid) – 1.61820 (offer).
Because you placed the guaranteed stop you are partially protected against this drop and your position is closed automatically around 13:00 GMT at the Stop/Loss level of 1.62430, realizing a loss of $500, (1 GBP dropped from $1.62930 to $1.62430, a difference of $0.00500. Therefore, as your trade size is 100,000 GBP, your loss is $0.005 X 100,000 = $500).
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