Suggestions On Trading During FOMC Days & Economic Reports

Economic Reports & Futures Levels 12.17.2014

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday December 17, 2014

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The FOMC interest rate decision is due at 14:00 ET in the US tomorrow ( Wednesday, Dec. 17th ).

FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.

if you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.

The following are suggestions on trading during FOMC days:

  • Reduce trading size
  • Be extra picky = no trade is better than a bad trade
  • Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 1965.00 with a stop at 1959.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 1959.75 and place a stop a few points below in this hypothetical example.
  • Expect the higher volatility during and right after the announcement
  • Expect to see some “vacuum” ( low volume, big zigzags) right before the number.
  • Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
  • Know what the market was expecting, learn what came out and observe market reaction for clues
  • This is another great example why a trading journal would be an asset, as you can go back and check your notes from previous FOMC days.
  • Be patient and be disciplined

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.

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Futures Trading Levels

Contract March 2014 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2048.08 4257.25 17657 1175.20 89.52
Resistance 2 2029.67 4223.50 17512 1164.60 89.13
Resistance 1 1998.33 4156.50 17264 1149.40 88.61
Pivot 1979.92 4122.75 17119 1138.80 88.22
Support 1 1948.58 4055.75 16871 1123.60 87.71
Support 2 1930.17 4022.00 16726 1113.00 87.32
Support 3 1898.83 3955.00 16478 1097.80 86.80
Contract Feb. Gold Mar.Silver Jan. Crude Oil Mar. Bonds March   Euro
Resistance 3 1254.2 17.57 61.09 148 3/32 1.2723
Resistance 2 1239.1 17.12 59.12 147 11/32 1.2651
Resistance 1 1218.1 16.44 57.54 146 23/32 1.2587
Pivot 1203.0 15.99 55.57 145 31/32 1.2515
Support 1 1182.0 15.32 53.99 145 11/32 1.2451
Support 2 1166.9 14.87 52.02 144 19/32 1.2379
Support 3 1145.9 14.19 50.44 143 31/32 1.2315
Contract March Corn March Wheat Jan. Beans Jan. SoyMeal Jan. bean Oil
Resistance 3 414.0 626.9 1035.67 374.67 32.31
Resistance 2 412.0 625.1 1032.83 370.73 32.16
Resistance 1 409.0 624.2 1028.17 363.67 31.96
Pivot 407.0 622.3 1025.33 359.73 31.81
Support 1 404.0 621.4 1020.7 352.7 31.6
Support 2 402.0 619.6 1017.83 348.73 31.46
Support 3 399.0 618.7 1013.17 341.67 31.26
5. Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

 

Date Currency Impact Detail Actual Forecast Previous Graph
WedDec 17 5:00am EUR Final CPI y/y 0.3% 0.3% 0.3%
EUR Final Core CPI y/y 0.7% 0.7% 0.7%
8:30am USD CPI m/m -0.3% -0.1% 0.0%
USD Core CPI m/m 0.1% 0.1% 0.2%
USD Current Account -100B -98B -98B
10:30am USD Crude Oil Inventories -0.8M -2.6M 1.5M
 2:00pm USD FOMC Economic Projections
USD FOMC Statement
USD Federal Funds Rate <0.25% <0.25%
2:30pm USD FOMC Press Conference

 

 

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

Tags: > > > > Posted in: Commodity Trading   | Day Trading   | Future Trading News   | Futures Trading  

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