Comex forex-int-report-24-oct

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Daily Market Reflection
24th
October 2017
Commodity Market Outlook
Fundamental News
On Monday, Gold seems sensitive to a stronger dollar as the gains in
the greenback made the precious metal more expensive for holders of
foreign currency. The dollar has found support as hopes for U.S. tax
reforms were boosted last week after the Senate approved a budget
measure that will allow Republicans to pursue tax cuts without
Democratic support.
Crude prices gained in Asia, as rig count figures out of the U.S. aided
sentiment on the supply outlook. Last week, oil prices settled higher in
see-saw trade, as political tensions in the Kurdistan region continued to
disrupt crude supplies.
 Gold prices hit 2-week low as Dollar gains
 crude oil gains in Asia on momentum from drop in U.S. rig count
 Dollar holds gains on poll win by Japan’s Abe, china house prices
noted
 PBOC sets Yuan parity at 6.6205 against dollar
Event Calendar (24th October 2017)
Time Currency Event Forecast Previous
12:30PM EUR
French Flash Manufacturing
PMI
56.2 56.1
12:30PM EUR French Flash Services PMI 57.0 57.0
1:00PM EUR
German Flash
Manufacturing PMI
60.1 60.6
1:00PM EUR German Flash Services PMI 55.5 55.6
1:30PM EUR Flash Manufacturing PMI 57.9 58.1
1:30PM EUR Flash Services PMI 55.7 55.8
COMEX
Commodities
Date Date
% Chg
20-10-17 23-10-17
GOLD 1276.21 1275.89 -0.03%
SILVER 16.96 16.97 +0.06%
CRUDE 52.09 52.12 +0.06%
COPPER 3.1553 3.1633 +0.25%
Global Commodities & Currencies
Commodities/
Currencies
Close
At 5pm
Previous % Chg
LEAD 2479.00 2468.25 +0.44%
ALUMINIUM 2146.50 2138.50 +0.37%
ZINC 3133.50 3101.75 +1.02%
NATURALGAS 3.008 2.915 +3.19%
PALLADIUM 963.09 969.85 -0.70%
PLATINUM 914.67 926.80 -1.31%
GBPUSD 1.3159 1.3186 -0.20%
EURUSD 1.1742 1.1784 -0.36%
USDJPY 113.89 113.53 +0.32%
EURJPY 133.73 133.73 0.00%
GBPJPY 149.91 149.70 +0.14%
GBPCHF 1.3004 1.2982 +0.17%
USDCHF 0.9879 0.9843 +0.37%
USDCAD 1.2633 1.2628 +0.04%
EURGBP 0.8921 0.8932 -0.12%
CHFJPY 115.26 115.32 -0.05%
EURCHF 1.1601 1.1605 -0.03%
AUDUSD 0.7815 0.7819 -0.05%
EURAUD 1.5025 1.5080 -0.36%
GBPAUD 1.6845 1.6875 -0.18%
COMEX GOLD
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currency Entry Exit P/L
18/10 USDJPY(L) 112.81 113.11 TARGET
Trifid special
Date Commodity Entry Exit P/L
18/10 CRUDE(L) 52.55 -- UNEXE
For our next calls click here……..

COMEX Overview
GOLD
Gold is trading sideways today after falling in previous
session on the back of stronger dollar. It may continue to
trade sideways with negative bias. It has a good support at
$1273 level while at the higher side it has a key resistance at
$1281.
R1 R2 S1 S2
1281 1290 1273 1267
SILVER
Silver is trading in a range today holding its crucial support
level at $16.85. If it sustains above this support then it may
move higher to test its immediate resistance at $17.05 level.
While any break below this level may move silver down
towards its next support at $16.70.
R1 R2 S1 S2
17.05 17.20 16.85 16.70
CRUDE
Crude oil is trading mixed today moving around $52 level. If
it breaks its immediate support at $51.60 then it may move
down further towards its next support at $51.25. While at the
upside it has a major resistance at $52.40 level.
COPPER
Copper is trading range bound today. At the higher side it
has a resistance at 3.1765 level while at the lower side it has
a support at 3.1330 level. It may continue to trade sideways.
R1 R2 S1 S2
52.40 52.85 51.60 51.25
R1 R2 S1 S2
3.1765 3.1950 3.1330 3.1015

Currencies Overview
GBPUSD
GBPUSD is acting in sideways. It has touched 1.3228 level
again and behaving like resistance level which is pushing
prices downside and there is huge probability that it can
break 1.3155 level because bearish pressure is increasing.
1.3026 is important support which is compulsory to break to
go down.
R1 R2 S1 S2
1.3228 1.3264 1.3155 1.3115
EURUSD
EURUSD is in bearish trend. Pair is in bearish pressure
falling sharply. 1.1728 is a support level which is important
to break to go further downside otherwise it will range
between 1.1773-1.1728 but there is probability that it can
touch 1.1773 level.
R1 R2 S1 S2
1.1746 1.1773 1.1728 1.1710
USDJPY
USDJPY pair is in sideways today, as expected pair has
broken 113.45 level and it is trading around 113.90.some
bearish pressure is present at 114.14 level which can resist
price to move upward. So, there is ranging probability
between 114.14- 113.58 levels.
USDCHF
USDCHF pair is in uptrend. It has broken the 0.9858 level
and it is moving uptrend and it can break 0.9896 because
bullish pressure still present .it can also face 0.9951 level as
important resistance. It is taking important support from
0.9836 level.
R1 R2 S1 S2
114.14 114.49 113.58 113.24
R1 R2 S1 S2
0.9896 0.9917 0.9858 0.9836

Intraday Super Star
(Premium Section)
As EUR/USD moving in down trend it can go further downside.
SELL EUR/USD BELOW 1.1727 TARGET 1.1712/1.1698/1.1783 SL 1.1742

Trifid Special
(Premium Section)
Gold is in down trend and may move further down if it breaks its immediate support at $1273.
SELL GOLD BELOW 1273 TARGET 1268 SL 1278

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