Perhaps you remember Mr. Miaggi â€śwax onâ€¦wax offâ€ť well this is a bit
different but the theme of late appears to be whether investors want risk on or
off. It looks to me like oil is trying to carve out a bottomâ€¦yes this is a
gutsy trade because weâ€™re suggesting to catch a falling knife but being most of
our exposure with clients is in August options we are OK being a few days
As option traders in energies know on down moves you can pay reasonably good
premiums on calls. We expect the August contract to find its way back above $80
in the coming weeks. Assuming we are correct we should see a turn around in the
distillates around the $2/gallon level. Natural gas was hit today almost 5%, we
could see a probe back below $4. We will be looking to re-establish longs from
lower levels for clients.
Continue to sell rallies in the indices and on a break of the 200 day MA we
would expect selling to intensify. Those levels come in at 1094 in the S&P,
10145 in the Dow and 1805 in the NASDAQ. October sugar hit the 20 day MA but
failed to close above that level. As we said yesterday on a trade above 16
cents we may lighten up on clients longsâ€¦stay tuned. OJ continues to inch
higher but we continue to suggest lightening up on longs as we feel you could see
a 10 cent set back at any moment. Lean hogs failed to follow thru to the
downside closing 1.62% higher today. Clients remain short looking for a trade
closer to 80.50 in August. We could see a bounce in the short run; if so we may
fade this rally with futuresâ€¦stay tuned.
Gold traded below $1200 as forecasted briefly breaching the trend line that
has held since the March lows. Clients took off their June gold strangle from
last week at a 22% net profit. They did leave money on the table but with one
week till expiration a profit is a profit. We said we were looking to start
scaling back into longs with clients when silver traded below $18/ounce which
Clients were advised to buy September $1.50 call spreads today. This is how
we see it: a trend line comes in at $18, 17.82 is a 38.2% Fibonacci
retracement, 17.25 is a 50% Fibonacci retracement and the 200 day MA comes in
at 17.14. Obviously the lower long entry the better but clients started buying
today. The real standout in metals today was a 9.3% descent in palladium today!
Clients rarely trade palladium but we do follow pricing for guidance.
Continue to buy dips in corn via September calls and December futures. Traders
long December should have sell stops in July for protection.
Though we just put the Yen longs on we advised clients to exit at a scratch
being we did want to have too many correlated trades on. If you are in this
trade and not silver or the S&P we still like the trade but most of our
clients have other positions that are too correlated. The Euro was higher by
1.50% as of this postâ€¦the squeeze is on. The dollar COULD be setting an interim
top; this will be critical to follow in the coming sessions.
Risk Disclosure: The risk of loss in trading commodity futures and options
can be substantial. Past performance is no guarantee of future trading results.
Forex Trading News
Daily Forex Market News Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Forex News Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Actionable trading levels delivered to YOUR charts in real-time.
looking for your first broker or do you need of a new one? There are
more critical things to consider than you might have thought.
We were trading long before there were online brokers. Global-View
has been directly involved with the industry since its infancy. We've
seen everything and are up-to-data with recent regulatory changes.
The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.
The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.
Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.
The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.
Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.
Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.
Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.
WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES
CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN
EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE
PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE
INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC
REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL
SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR
SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.