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Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
In the past I shared some markets I like to look at for day trading opportunities when stock index futures are in dead/ manipulated periods….Today I would like to talk a little about the currency futures markets. I personally prefer currency futures over FOREX any day. More than a few reasons but the main ones are: currency futures trade on one, regulated main exchange ( CME) while FOREX trades through different inter banks and other means of transactions that are not necessarily regulated.FOREX are “commission free” but in reality there is a spread built in that dealer marks up each time you buy or sell which makes FOREX more expensive than futures.
The main ones I like to follow are:
The Euro , The Yen, The British Pound, The Australian. All are paired versus the US$.
Each market will have different times of higher volume which can allow for traders in all time zones to pick their market. Simply open an hourly chart, like the example I am showing below of the Australian $ and add the volume indicator to observe what times the market has the most action.
Currency futures will often trend better than other segments and will experience different levels of volatility during economic reports in the different parts of the world.
If you plan on following any currencies, start in demo mode, know what reports are coming that affect the specific currency you are trading, take a look at the daily, weekly charts to get a feel and monitor the action for a while.
Any questions and I will be happy to assist.
Hourly chart of the Australian Dollar below for reference:
GOOD TRADING !
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not indicative to future results.
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Futures Trading Levels
|
Contract Dec. 2014 |
SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
|
Resistance 3 |
2060.17 |
4260.50 |
17798 |
1184.30 |
89.12 |
|
Resistance 2 |
2050.33 |
4242.50 |
17720 |
1179.40 |
88.59 |
|
Resistance 1 |
2044.92 |
4227.50 |
17668 |
1171.60 |
88.29 |
|
Pivot |
2035.08 |
4209.50 |
17590 |
1166.70 |
87.76 |
|
Support 1 |
2029.67 |
4194.50 |
17538 |
1158.90 |
87.47 |
|
Support 2 |
2019.83 |
4176.50 |
17460 |
1154.00 |
86.94 |
|
Support 3 |
2014.42 |
4161.50 |
17408 |
1146.20 |
86.64 |
|
Contract |
Dec. Gold | Dec.Silver | Dec. Crude Oil | Dec. Bonds | Dec. Euro |
|
Resistance 3 |
1205.3 |
16.83 |
77.68 |
143 5/32 |
1.2676 |
|
Resistance 2 |
1199.4 |
16.64 |
76.93 |
142 23/32 |
1.2628 |
|
Resistance 1 |
1192.5 |
16.39 |
76.21 |
142 1/32 |
1.2542 |
|
Pivot |
1186.6 |
16.20 |
75.46 |
141 19/32 |
1.2494 |
|
Support 1 |
1179.7 |
15.95 |
74.74 |
140 29/32 |
1.2408 |
|
Support 2 |
1173.8 |
15.76 |
73.99 |
140 15/32 |
1.2360 |
|
Support 3 |
1166.9 |
15.51 |
73.27 |
139 25/32 |
1.2274 |
|
Contract |
Dec Corn | Dec. Wheat | Jan. Beans | Dec. SoyMeal | Dec. bean Oil |
|
Resistance 3 |
383.7 |
553.0 |
1062.33 |
409.07 |
33.24 |
|
Resistance 2 |
381.3 |
552.8 |
1049.42 |
399.03 |
32.94 |
|
Resistance 1 |
379.4 |
552.3 |
1042.83 |
393.07 |
32.69 |
|
Pivot |
377.1 |
552.0 |
1029.92 |
383.03 |
32.39 |
|
Support 1 |
375.2 |
551.5 |
1023.3 |
377.1 |
32.1 |
|
Support 2 |
372.8 |
551.3 |
1010.42 |
367.03 |
31.84 |
|
Support 3 |
370.9 |
550.8 |
1003.83 |
361.07 |
31.59 |
| Date | 3:45pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| TueNov 18 | 5:00am | EUR | German ZEW Economic Sentiment | 0.9 | -3.6 | ||||
| EUR | ZEW Economic Sentiment | 4.3 | 4.1 | ||||||
| 8:30am | USD | PPI m/m | -0.1% | -0.1% | |||||
| USD | Core PPI m/m | 0.2% | 0.0% | ||||||
| 10:00am | USD | NAHB Housing Market Index | 55 | 54 | |||||
| 1:30pm | USD | FOMC Member Kocherlakota Speaks | |||||||
| 4:00pm | USD | TIC Long-Term Purchases | 41.3B | 52.1B |
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading.
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