Faysal Amin
Mind Vision Traders
Comments by U.S. Secretary of State Kerry on Monday are taken as a threat against Syria in mid-afternoon trade weighed on equities. Today Risk aversion flows stemming from concerns over Syria aided the USD, JPY and CHF against the European pairs. Price action saw a rotation out of equities into the safe-haven of bonds and yellow metal would be in bull move short term and so do other metals OIL surge higher as long as Army built up in Gulf.
Have a nice trading day ahead of you!
Cheers!
EUR/USD (last 1.3332)
Support:
1.3302 (S1)
1.3226 (S2)
1.3116 (Major Sup)
Resistance:
1.3405 (R1)
1.3523 (RR)
1.3589 (RRR)
RANGE – 13488—13566---13206
STRATEGY
Choppy action but bias is dn
Mid term Trade
[email protected] Stop@13577 tgt 1.2972 (parked)
Intraday (if it breaks below 13240 on daily close then top is in for mid term)
Trad#1 Long@13158 stop@13138 tgt 13263 (New parked order)
Trade#2 Day trade short 13429 stop 13454 tgt 13231 (now offload on the current mkt price 13390 and hold remaining half with the same stop)
High Risk
buy @13211 stop@13182 Tgt 13355
Short@13372 Stop@13406 tgt 13312
GBP/USD (CABLE) (15502)
Support:
1.5478 (S1)
1.5366 (SS2)
1.5204 (Major Sup)
Resistance:
1.5606 ®
1.5748 (Res)
15862 (**Major Resistance)
Range 15730---15470—15282
STRATEGY SOS (short on strength)
A Major resistance at 15770 and 15426 make or break on the lower side
Mid term
Trade #1 [email protected] stop@14793 tgt 15030
Trade #2 short@15786 add 15833 stop@15869 tgt 15072 (New parked orders)
Intra day trade
Short@15639 stp@15679 tgt 15484
Long@15408 stop@15392 tgt 15519
(Plz note on all the intra day of not filled By the same Day till MOC then Cancel the Trade)
USD/JPY (Yen) (97.68)
Support:
9701 (S1)
9645 (S2)
9555 (Major Sup)
Resistance:
9858** (R1)
9944 (RR)
10065 (RRR3)
Range -9992----9703—9552
MID term
[email protected] stop@9267 tgt 100.21
Short term
Short@9998 stop@ 10043 tgt 9768 (New parked order)
Short term Long@9542 stop@9514 tgt 9705 (New parked order)
Other markets
EurGBP Short@8645 stop@8666 tgt 8545
Future Canada Dollar make or break 9433
Ausie Dollar make or break 8800
Swiss Future short@10768 stop@10744----
Future Crude oil Strongly up as Gulf area on the verge of WAR
Time line For short term cyclical projections
GMT
---GMT
For ---
---- is minor turn cycle for the day
For the Fellow Traders plz do place the stops and intraday Trade means if not filled by MOC cancel the Trades
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETIEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK AND NOHYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTANL LOSSES OR TO ADHERE TO A PARTICULAR TRADINGPROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULT
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Editors’ Picks
EUR/USD extends losses to 1.0550 as focus shifts to US ISM PMI
EUR/USD keeps falling to test 1.0500 in the European session on Monday. The pair is dragged down by dovish ECB-speak, French political woes and a firmer US Dollar following Trump tariffs threat on BRICS-fuelled flight to safety. Investors now await US ISM Manufacturing PMI data.
GBP/USD keeps the red near 1.2700 on stronger US Dollar
GBP/USD holds sizeable losses near 1.2700 in European trading on Monday. The pair's downside is sponsored by a goodish pickup in the haven demand for the US Dollar, as traders remain wary over the latest Trump tariffs threat on BRICS nations. US ISM PMI is next in focus.
Gold price seems vulnerable on broad-based USD strength
Gold price remains heavily offered tone through the early European session and is currently placed near the lower end of its daily range, around the $2,629 region. This marks the first day of a negative move in the previous five and is sponsored by a combination of factors.
The week ahead: Payrolls take centre stage, as French government poised to collapse
At the start of this week, the focus is likely to be on France. On Sunday, Marine Le Pen said that her party’s talks with the government led by Michel Barnier, had broken down, which paves the way for a no-confidence vote in the technocratic government that has no majority in Parliament.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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