FOMC Due Tomorrow 7.27.2016

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 July 27, 2016

Hello Traders,

The FOMC interest rate decision is due at 2:15 ET in the US tomorrow ( Wednesday, July 27th ). Also more than a few economic numbers ahead of the announcement.

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 2165.00 with a stop at 2159.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 2159.75 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
  • 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.

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!

Futures Trading Levels 

Contract Sept. 2016  SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2183.50 4723.67 18592 1228.90 97.82
Resistance 2 2175.75 4702.83 18520 1222.20 97.58
Resistance 1 2169.25 4682.67 18456 1217.90 97.37
Pivot 2161.50 4661.83 18384 1211.20 97.13
Support 1 2155.00 4641.67 18320 1206.90 96.92
Support 2 2147.25 4620.83 18248 1200.20 96.68
Support 3 2140.75 4600.67 18184 1195.90 96.47
Contract Aug. Gold Sept. Silver Sept. Crude Oil Sept. Bonds Sept.   Euro
Resistance 3 1335.8 20.15 44.37 174 1.1095
Resistance 2 1330.1 19.98 43.88 173 12/32 1.1075
Resistance 1 1325.0 19.84 43.34 172 16/32 1.1044
Pivot 1319.3 19.67 42.85 171 28/32 1.1023
Support 1 1314.2 19.53 42.31 171 1.0992
Support 2 1308.5 19.36 41.82 170 12/32 1.0972
Support 3 1303.4 19.22 41.28 169 16/32 1.0941
Contract Dec.Corn Sept. Wheat Nov. Beans Dec. SoyMeal Nov. Nat Gas
Resistance 3 348.2 433.0 996.50 349.37 2.81
Resistance 2 345.8 429.0 989.75 345.03 2.78
Resistance 1 342.7 422.0 981.75 341.67 2.72
Pivot 340.3 418.0 975.00 337.33 2.69
Support 1 337.2 411.0 967.0 334.0 2.6
Support 2 334.8 407.0 960.25 329.63 2.59
Support 3 331.7 400.0 952.25 326.27 2.54

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

All times are Eastern time Zone (EST)

Date 4:23pm Currency Impact Detail Actual Forecast Previous Graph
WedJul 27  2:00am EUR
German Import Prices m/m
0.6% 0.9%
EUR
GfK German Consumer Climate
9.9 10.1
4:00am EUR
M3 Money Supply y/y
5.0% 4.9%
EUR
Private Loans y/y
1.7% 1.6%
4:30am GBP
Prelim GDP q/q
0.5% 0.4%
GBP
Index of Services 3m/3m
0.3% 0.5%
6:00am GBP
CBI Realized Sales
2 4
Tentative EUR
German 30-y Bond Auction
0.65|2.0
8:30am USD
Core Durable Goods Orders m/m
0.3% -0.3%
USD
Durable Goods Orders m/m
-1.1% -2.3%
10:00am USD
Pending Home Sales m/m
1.9% -3.7%
10:30am USD
Crude Oil Inventories
-2.3M
2:00pm USD
FOMC Statement
USD
Federal Funds Rate
<0.50% <0.50%

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 judgement in trading.

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

Comments are closed.

Download Cannon’s new eBook, “Futures Forthright” instantly.


Quick Tip: After registering you will be emailed login information, so be sure to use an email address you have access to. If you need assistance please call us at 1-800-454-9572, a professional broker will help you through the registration process.
________
Doing Business With
See more...
Loading
Loading

Loading