Currencies
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- The euro has found resistance twice at 1.3324 against the US dollar . The pair is now trading around 1.3270 ahead of the quarterly European employment release, due at 9:00 GMT. Anything better than expected may open the road towards higher highs for the single currency.
- The US dollar rebounded from a weekly low at 99.00 against the Japanese yen. The pair may test its major resistance at 100.00 as the US government forecasts to show accelerated figures for retail sales, due at 12:30 GMT.
- Gold dropped more than 50 US dollars yesterday, and hit a monthly low at 1308 US dollars per ounce. The precious metal may head towards lower lows, as investors anticipate the Fed to reduce its monthly asset purchases on next week meetings. The bearish trend may continue for a while and option traders can benefit from it by purchasing weekly at the money PUTs.
- The GER 30 (DAX) continued its rally for another day, and hit a new high at 8528. It looks that the German economy is recovering and returning back to growth. The index may test its resistance at 8530 and break higher if we see improved employment figures from eurozone.
- WTI Crude managed to form a support at 106.40, and is currently trading around 108.40 US dollars per barrel. The rally of the previous weeks calmed down as the fear of a US military strike over Syria is easing.
Risk Warning : 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. Please refer to our full risk disclaimer.