Best Comex Forex Report-01 feb.

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Daily Market Reflection
1ST
February 2018
Commodity Market Outlook
Fundamental News
Gold prices rose in Asia on Wednesday as President Donald Trump
urged bipartisan cooperation on overhauling US immigration policies
and rebuilding infrastructure in an address to Congress on Tuesday
night. Investors await the Federal Reserve to reveal its decision on
monetary policy and insights into the pace of US economic growth and
inflation, rising US bond yields continued to pressure gold prices, as the
precious metal remained on track to post its first two-day loss in three
weeks.
After markets closed Tuesday, the American Petroleum Institute said that
U.S. oil inventories rose by nearly 3.2 million barrels last week, compared
with analysts' expectations for a more modest increase of around 0.1
million barrels. The API report also showed a gain of 2.6 million barrels in
gasoline stocks, while distillate stocks, which include motor diesel and
heating oil, fell by about 4.0 million barrels.
Event Calendar (31ST January 2018)
Time Currency Event Forecast Previous
18:45PM USD
ADP Nonfarm
Employment Change
186K 250K
19:00PM CAD GDP (MoM)(Nov) 0.4% 0.0%
19:00PM CAD RMPI(Dec) -2.2% 5.5%
20:30PM USD
Pending Home
Sale(Dec)
0.5% 0.2%
21:00PM USD Crude Oil Inventories 0.126M -1.071M
COMEX
Commodities
Date Date
% Chg
30-01-18 31-01-18
GOLD 1340.45 1342.75 +0.17%
SILVER 17.14 17.21 +0.41%
CRUDE 63.94 64.12 +0.28%
COPPER 3.1868 3.2120 +0.79%
Global Commodities & Currencies
Commodities/
Currencies
Close
5 PM
Previous % Chg
LEAD 2604.75 2601.00 +0.14%
ALUMINIUM 2228.25 2216.75 +0.52%
ZINC 3517.00 3505.75 +0.32%
NATURALGAS 3.049 3.181 -4.15%
PALLADIUM 1059.60 1055.47 +0.39%
PLATINUM 1001.18 998.55 +0.26%
GBPUSD 1.4147 1.4146 +0.01%
EURUSD 1.2452 1.2403 +0.40%
USDJPY 108.75 108.78 -0.03%
EURJPY 135.42 134.90 +0.39%
GBPJPY 153.84 153.88 -0.03%
GBPCHF 1.3192 1.3238 -0.35%
USDCHF 0.9327 0.9357 -0.32%
USDCAD 1.2277 1.2334 -0.46%
EURGBP 0.8803 0.8766 +0.42%
CHFJPY 116.60 116.32 +0.24%
EURCHF 1.1613 1.1597 +0.14%
AUDUSD 0.8107 0.8083 +0.30%
EURAUD 1.5359 1.5346 +0.08%
GBPAUD 1.7449 1.7504 -0.31%
COMEX GOLD
 Gold price up in Asia as Trump proposes Bipartisan push to Congress
 Oil prices continue lower ahead of EIA weekly supply report
 Dollar set for biggest monthly loss in nearly 2 years as outlook weakens
 Dollar under pressure before FED decision
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currency Entry Exit P/L
30/01 USDCHF(S) 0.9280 --- UNEXE
Trifid special
Date Commodity Entry Exit P/L
30/01 CRUDE(S) 64.60 64.30 TARGET
For our next calls click here……..

COMEX Overview
GOLD
Gold prices are trading slightly higher in today’s session
ahead of the FOMC meeting. It is expected to trade range
bound before the Fed meet outcome. At the higher side it
may find resistance at $1349 while at the lower side it may
take support at $1333.
R1 R2 S1 S2
1349 1357 1333 1322
SILVER
Silver prices are trading sideways today with some positive
bias. It may continue to trade range bound as investors are
cautious ahead of the Fed meet. Currently trading near
$17.20 it may move further to test its resistance at $17.37
while a dip in the prices will get support at $16.95.
R1 R2 S1 S2
17.37 17.54 16.95 16.80
CRUDE
Crude oil prices fell in the previous session and closed below
$64 level. Currently trading near $64.15 if it hold the support
of $63.60 level then it may move up to its immediate
resistance at $64.85 while a break below this support may
take it further down.
COPPER
Copper price extended the gains in today’s session and
moved above 3.20 level. It may continue to move higher and
may test its immediate resistance at 3.2260 level while any
downside movement will get support at 3.1670 level.
R1 R2 S1 S2
64.85 65.65 63.60 62.90
R1 R2 S1 S2
3.2260 3.2475 3.1670 3.1350

Currencies Overview
GBPUSD
GBPUSD has moved above 1.4158 level and tried to chase
1.4228 level also but it failed to sustain above it and fall
down below1.4158 level. But due to bearish pressure is
increasing it can go more downside.
R1 R2 S1 S2
1.4158 1.4228 1.4054 1.4007
EURUSD
EURUSD was in uptrend but near 1.2444 level it is struggling
right now to move up. It is important resistance which is
important for continuation in rallying but there is bearish
pressure at this level if it fails to climb it can retrace near to
the 1.2377 levels.
R1 R2 S1 S2
1.2444 1.2492 1.2416 1.2377
USDJPY
USDJPY is still ranging here for the same levels from past
four days. 108.50 is reacting like a strong support which is
not allowing price to go below it. It is ranging in a tight range
of 111.20-110.50 which’s breakout will be clear its
movement.
USDCHF
USDCHF is also ranging between 0.9366-0.9311 ranges. But
in this situation again breakout is most important to decide
its direction. But if we look at the previous sessions bearish
pressure was in power. So, there is important to break
0.9288 level to move more downside.
R1 R2 S1 S2
108.86 109.09 108.50 108.31
.
R1 R2 S1 S2
0.9366 0.9447 0.9311 0.9288

Intraday Super Star
(Premium Section)
GBPAUD is indicating that it can continue to fall. So, it’s better to sell it.
SELL GBPAUD BELOW 1.7428 TARGET 1.7408/1.7388/1.7368 SL ABOVE 1.7448.

Trifid Special
(Premium Section)
Crude oil prices are moving lower and if it breaks its support at $63.60 then it may move further down.
SELL CRUDE OIL BELOW 63.60 TARGET 63.30 SL 64.00

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Best Comex Forex Report-01 feb.

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