Investing.com - Financial Markets Worldwide

Euro Reversing Negative Trend

ByTechnical Trading
Published 09/10/2013, 04:57 AM
Updated 03/09/2019, 08:30 AM
GC
-0.43%
Currencies

The euro reached to higher highs touching 1.3266. The single currency looks to have clearly reversed last week’s bearish trend reaching for new highs.

The US dollar remains range bound against the Japanese yen at 99.62. The dollar kept its strength as a possible diplomatic solution to the Syrian crisis is unveiled.

Mover & Shaker with FX options
Gold has been on a bearish outlook as fears of escalating violence in Syria are re-assessed. As a possible diplomatic solution to the crisis appears to be feasible, then investors are fleeing gold as a safe haven and rebalancing their portfolios. Look for further downside below 1379 as events unfold.

Gold options provide an ideal tool to protect against adverse effects to your gold positions. To protect a long gold position in spot, investors are buying gold puts at the money to offset any potential losses.

Equities
US stocks continue on a positive footing after certain corrections over the past week. The US 500 (SPI) has moved to 1671, a one month high and the US Tech (NDQ) has reached 3173.

Commodities
WTI Crude (OIL) has reversed its bullish trend moving into negative territory. The crude has fallen to 108.51 from a high of 111.05 late last week.


Disclaimer: Forex, Commodities, Options and CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. Please ensure that you fully understand the risks involved and do not invest money you cannot afford to lose.

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