Trading Advice by FOREX & COMEX Signals for Tomorrow

Posted: April 8, 2015 in Commodity Tips, Forex

FOREX REPORT
EUR/USD: The EURUSD fell hard during the session on yesterday, testing the 1.08 level. With that, it appears that the market will continue to sell off the Euro, and it now looks like it is ready to go much lower. The fact that we are closing at the very bottom of the range for the day suggests that the market is going to continue going much lower. If we rally at this point of time, we are looking for resistive candles in order to continue selling as the downtrend will certainly looks ready to continue.forex
GBP/USD: The GBPUSD broke down during the course of the session on yesterday, crashing into the 1.48 level. Though we haven’t broken down completely, and as a result there could be a little bit of a bounce. If we get below the 1.4750 level,the market should then head to the 1.45 level. As of now,we have no interest in buying this market.
AUD/USD: The AUDUSD broke higher during the course of the day on yesterday, testing the 0.77 level. However, we gave back most of the gains in order to form a bit of a shooting star, and as a result we feel that this market is going to break down given enough time. Once it happens, we feel the market will test the 0.75 level, and the perhaps even lower than that. Rallies continue to be selling opportunities therefore we have no interest in buying.
USD/JPY: The USDJPY broke higher during the course of the day on yesterday, but found the area near 120.50 to be too resistive. If we get above there, we should then continue much higher. On the other hand, we could pull back and try to build up momentum. Pullbacks offer value in the US dollar, and with the FOMC Meeting Minutes coming out today, it’s likely that there will be some volatility in this market. If there are signs of potential tightening or at least the tightening out of the Federal Reserve being on target, it’s very likely that the US dollar continues going higher.
NZD/USD: The NZDUSD fell during the course of the session on yesterday, crashing below the 0.75 level. We recognize that there is support below and we need to break down below the hammer from a couple of sessions back so that we can start selling. Also, we have to keep in mind that the US dollar is the strongest currency that we have been trading.
COMEX REPORT
GOLD: The gold markets fell during the session on yesterday, and ended up filling the gap from Monday. Because of this, we feel that the buyers could come back into play. On the daily chart, if we break above the 1220 level then we Would be comfortable in buying. If we break down below the 1200 level, we feel that the market should then go to the 1180 level. As of now, we are not interested in placing large trades at the moment.adf82-comex
SILVER: The silver markets fell during the session on yesterday, but turned back around to bounce and form a hammer. The hammer contradicts the shooting star from the previous session, so it looks like a market which is stuck. With this, we believe that the market will be very difficult to trade in the meantime, so we are stepped on the sidelines as the market continues to try to discern which way it wants to go. It is possible that after the FOMC Meeting Minutes today the silver markets may move.
CRUDE: The light sweet crude market initially fell during the session on yesterday, but found enough support at the $51 level to turn things back around and formed a positive candle. The $54 level was tested, and as a result we believe that this market should then head to the $55 level. We are looking for selling opportunities as the market is in a downtrend. However, if we break above the $55 level, it’s very likely that this market will then head to the $60 level, giving us a short-term buying opportunity. The strengthening of US Dollar may result in weaker oil markets and make it lead to the $50 level.

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