Forex & Commodity Tips

Forex & Commodity Tips & Tricks


December, 2009

MCX Update: Strategy For Trading

Dec 31

Posted by FxCommcalls in Bullion Update, Commodity Update | No Comments

GOLD FUTURE

(Last traded Price 16638)
The counter after gap down opening yesterday failed to move higher on weak global advice and remained range bound for the major part of the session except earlier to closing hours when it surged to day’s high at 16705, which however, remained short lived and the gold slipped back in closing minutes. The counter may remain volatile today taking cues from the world markets. The gold as appears on charts may slip further to 16574/16534 once it trades and remains below 16609. Strong resistance for the gold exists at 16678 which if crossed with volumes then the gold may move up to 16707/16726.

 

DOW JONES (LAST CLOSE 10548)
LONG ON DOW @10410 ON 21-12-09. NOW SL IS 10515. SELL IT BELOW 10515

COPPER (LAST CLOSE 344.65)
SELL COPPER BELOW 341 WITH SL OF 348.

CRUDE OIL

LONG ON @ 3290 ON 15-12-09. NOW SL IS 3685 . SELL IT BELOW 3685

GOLD
(LAST CLOSE 16652 )

SHORT ON GOLD @17070 ON 17-12-09 . NOW HOLD SHORT WITH SL OF 16725.

NATURAL GAS JANUARY
(LAST CLOSE 271.80)

LONG ON NG @274 ON 28-12-09. HOLD NG LONG WITH SL OF 266.

SILVER
(LAST CLOSE 26657 )

SHORT ON SILVER @27290 ON 29-12-09. NOW HOLD SHORT WITH SL OF 27005.

Popularity: 58% [?]

  • Share/Bookmark

Tags: , , , , ,

Currency Trading Holidays – India

Dec 27

Posted by FxCommcalls in Forex Update | No Comments

Trading holidays for the calendar year 2010

S No

Date

Day

Description

1

26-Jan-10

Tuesday

Republic Day

2

12-Feb-10

Friday

Mahashivratri

3

01-Mar-10

Monday

Holi

4

16-Mar-10

Tuesday

Gudi Padwa

5

24-Mar-10

Wednesday

Ram Navmi

6

01-Apr-10

Thursday

Annual Closing of Banks

7

02-Apr-10

Friday

Good Friday

8

14-Apr-10

Wednesday

Ambedkar Jayanti

9

27-May-10

Thursday

Buddha Pournima

10

19-Aug-10

Thursday

Parsi New Year

11

10-Sep-10

Friday

Ramzan ID

12

30-Sep-10

Thursday

Half Yearly Closing of Banks

13

05-Nov-10

Friday

Diwali / LaxmiPuja*

14

17-Nov-10

Wednesday

Bakri ID

15

17-Dec-10

Friday

Moharram

 

The holidays falling on Saturday / Sunday are as follows:

S No

Date

Day

Description

1

27-Feb-10

Saturday

Id-e-Milad

2

28-Mar-10

Sunday

Mahavir Jayanti

3

01-May-10

Saturday

May Day

4

15-Aug-10

Sunday

Independence Day

5

11-Sep-10

Saturday

Ganesh Chaturthi

6

02-Oct-10

Saturday

Gandhi Jayanti

7

17-Oct-10

Sunday

Dussera-Vijaya Dashami

8

07-Nov-10

Sunday

Bhau Bhij

9

21-Nov-10

Sunday

Gurunanak Jayanti

10

25-Dec-10

Saturday

Christmas


 

*Muhurat Trading will be conducted. Timings of Muhurat Trading shall be notified subsequently.

 

——————-

 

 

Popularity: 24% [?]

  • Share/Bookmark

Tags:

Bank Holidays 2010 (United States)

Dec 27

Posted by FxCommcalls in Forex Update | No Comments

Bank Holidays in 2010 for US when the Currency Trading may be affected or not happen at all.

2010 U.S. Holiday Recommendations
Holiday Recommended Early Close
(2:00 p.m. Eastern Time)
New Year’s Day Friday, January 1, 2010
Martin Luther King Day Monday, January 18, 2010
Presidents’ Day Monday, February 15, 2010
Memorial Day Monday, May 31, 2010
Independence Day Monday, July 5, 2010
Labor Day Monday, September 6, 2010
Columbus Day Monday, October 11, 2010
Veterans Day Thursday, November 11, 2010
Thanksgiving Day Thursday, November 25, 2010
Christmas Day Saturday, December 25*, 2010

Popularity: 62% [?]

  • Share/Bookmark

Tags: ,

Crude Oil Forcast 2010

Dec 27

Posted by FxCommcalls in Commodity Update | No Comments

Crude Oil Price Forecast

West Texas Intermediate Spot Price. USD/bbl. Average of Month.
Month Date Forecast
Value		 50%
Correct +/-		 80%
Correct +/-
0 Nov 2009 78.1 0 0
1 Dec 2009 74 6 13
2 Jan 2010 85 7 16
3 Feb 2010 92 8 18
4 Mar 2010 104 9 20
5 Apr 2010 110 9 21
6 May 2010 110 10 22
7 Jun 2010 107 10 23
8 Jul 2010 103 11 24

Updated Friday, December 18, 2009

 

Crude Oil Prices

Past Trend Present Value & Future Projection
West Texas Intermediate. US Dollars per barrel.

 

 

 

Analysts expect crude oil futures to trade around $75 to $80 during the early months of 2010 and may go above $90 later in the year as the global economy recovers from the worst economic slump since the Great Depression.

These prices give plenty of comfort to producers. Opec, the producers’ cartel, has said $75 a barrel is its target, while even deep-water specialists such as BP, Shell and Petrobras can continue drilling in expensive offshore regions at a much lower price.

Popularity: 100% [?]

  • Share/Bookmark

Tags: , , , ,

Latest Forex Update

Dec 23

Posted by FxCommcalls in Forex Update | No Comments

EURUSD

Trading strategy: small short at 1.4330, stop at 1.4380 (0.5% risk), 1st objective at 1.4280, 2nd objective at 1.4230

The euro dropped below $1.4260 yesterday, reaching a fresh 3 months low at 1.4220 – now far from the 200 days SMA coming around 1.4195. In case of extended weakness against the dollar, a potential bottom may form at 1.6200 – if the 200 days SMA will provide a stable support. On the higher region – intra-day resistance formed by the downward trend line coming from 1.5140 is now seen around 1.4310 – corresponding to current week’s open quote – therefore current bearish structure will remain intact as long as the said upside barrier will provide a decent region to renew selling interest. Current quote is 1.4265 @07:30 GMT

Support: 1.4220, 1.4195/00, 1.4150 and 1.4100
Resistance: 1.4300/10, 1.4350/70, 1.4400 and 1.4470/90
Market sentiment: long term – bullish, medium term – slightly bullish, short term – bearish, intra-day – neutral

 

INTRA-DAY USD/JPY:

Last Update At 23 Dec 2009 04:18 GMT

Range Forecast
91.50 / 91.75

Resistance/Support
R: 91.88/92.33/92.55
S: 91.30/90.91/90.60
————————————————-

INTRA-DAY EUR/USD:

Last Update At 23 Dec 2009 04:20 GMT

Range Forecast
1.4237 / 1.4265

Resistance/Support
R: 1.4276/1.4316/1.4333
S: 1.4237/1.4218/1.4170
————————————————-

INTRA-DAY USD/CHF:

Last Update At 23 Dec 2009 04:22 GMT

Range Forecast
1.0475 / 1.0509

Resistance/Support
R: 1.0509/1.0543/1.0600
S: 1.0443/1.0393/1.0377
————————————————-

INTRA-DAY GBP/USD:

Last Update At 23 Dec 2009 04:22 GMT

Range Forecast
1.5940 / 1.5970

Resistance/Support
R: 1.5992/1.6053/1.6100
S: 1.5923/1.5857/1.5800

Popularity: 15% [?]

  • Share/Bookmark

Bad Behavior has blocked 26 access attempts in the last 7 days.