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Daily Market Reflection
9th
February 2018
Commodity Market Outlook
Fundamental News
Gold prices edged lower on Thursday, reaching their lowest level in
around a month as the dollar firmed amid expectations of more U.S.
interest rate hikes this year. A stronger U.S. dollar usually weighs on gold,
as it dampens the metal's appeal as an alternative asset and makes dollar-
priced commodities more expensive for holders of other currencies. U.S.
Senate leaders reached a two-year budget deal to raise government
spending by almost $300 billion.
California will block the transportation through its state of petroleum from
new offshore oil rigs, officials told Reuters on Wednesday, a move meant to
hobble the Trump administration’s effort to vastly expand drilling in U.S.
federal waters. Trump has said more offshore drilling would boost the U.S.
economy and national security by reducing reliance on imported oil.
Event Calendar (8th February 2018)
Time Currency Event Forecast Previous
17:30PM GBP BoE Inflation Letter
17:30PM GBP
BoE Interest Rate
Decision
0.50% 0.50%
18:30PM USD
FOMC Member
Harker Speaks
19:30PM USD
FOMC Member
Kashkari Speaks
23:15PM CAD
BoC Gov Council
Member Wilkins
Speaks
COMEX
Commodities
Date Date
% Chg
07-02-18 08-02-18
GOLD 1310.92 1310.98 0.00%
SILVER 16.26 16.28 +0.12%
CRUDE 61.42 61.30 -0.20%
COPPER 3.0928 3.0618 -1.00%
Global Commodities & Currencies
Commodities/
Currencies
Close
5 PM
Previous % Chg
LEAD 2485.75 2522.75 -1.47%
ALUMINIUM 2156.25 2159.75 -0.16%
ZINC 3383.25 3387.75 -0.13%
NATURALGAS 2.723 2.702 +0.78%
PALLADIUM 977.75 984.55 -0.69%
PLATINUM 975.30 981.70 -0.65%
GBPUSD 1.3900 1.3876 +0.17%
EURUSD 1.2235 1.2262 -0.22%
USDJPY 109.66 109.38 +0.26%
EURJPY 134.19 134.13 +0.04%
GBPJPY 152.45 151.77 +0.45%
GBPCHF 1.3148 1.3104 +0.34%
USDCHF 0.9458 0.9443 +0.16%
USDCAD 1.2592 1.2565 +0.21%
EURGBP 0.8802 0.8836 -0.38%
CHFJPY 116.00 115.78 +0.19%
EURCHF 1.1572 1.1580 -0.07%
AUDUSD 0.7808 0.7823 -0.19%
EURAUD 1.5676 1.5673 +0.02%
GBPAUD 1.7809 1.7738 +0.40%
COMEX GOLD
 Gold slides to lowest level in a month amid firmer dollar
 U.S. oil exports pour into markets worldwide
 Dollar index remains supported at 2-week peak
 USDJPY consolidates daily gains, hold above mid-109.00s
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currency Entry Exit P/L
06/02 USDCHF(S) 0.9410 0.9395 SL HIT
Trifid special
Date Commodity Entry Exit P/L
06/02 CRUDE 62.70 62.40 TARGET
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COMEX Overview
GOLD
Gold prices are trading flat in today’s session after falling
sharply in the previous session on the back of a rise in dollar.
It is expected to trade at the lower level and may test its
immediate support at $1306 as the steep fall indicates strong
bearishness.
R1 R2 S1 S2
1322 1332 1306 1298
SILVER
Silver prices slumped in yesterday’s trade and closed at
$16.26 level. Currently trading near $16.28 it if breaks its
immediate support at $16.20 then it may fall further down
while any upside correction will find resistance at $16.45
level.
R1 R2 S1 S2
16.45 16.60 16.20 16.05
CRUDE
Crude oil prices plunged sharply in the previous trade and
closed below $62 level. It is trading just above its crucial
support at $61.05 and if it is broken then it may lead to
further sell off in crude prices. A bounce back from this level
is expected to be limited.
COPPER
Copper prices gave the breakout of its range at the lower
side in the last trading session. It fell sharply in the previous
trade and extended the losses in today’s session. It is
expected to continue its bearish run and may test its support
at 3.0470 level.
R1 R2 S1 S2
62.15 62.75 61.05 59.90
R1 R2 S1 S2
3.0780 3.1040 3.0470 3.0230

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Currencies Overview
GBPUSD
GBPUSD is ranging today. It has chased the 1.3839 level as
we expected but this level is working like an important
support. There is bullish pressure is present at this level
which can give pull back in the prices and can rise up to
1.3987.
R1 R2 S1 S2
1.3933 1.3987 1.3878 1.3839
EURUSD
EURUSD has broken 1.2322 level and fell down to 1.2223
level which is working as an important support. There is
possibility that it may bring some correction and can touch
the level of 1.2273.
R1 R2 S1 S2
1.2255 1.2273 1.2235 1.2223
USDJPY
USDJPY has risen up to 109.85 level which was expected and
currently it is ranging, making flag pattern and positive
divergence in daily chart with double bottom indicating that
it is ready to go upside.110.05 is important level to break to
confirm this expectation.
USDCHF
USDCHF has successfully achieved 0.9447 level as support
and now it will move more upside.0.9552 is important
resistance, if it achieves then it will work as support for
inverse head for head and shoulder pattern.
R1 R2 S1 S2
109.85 110.05 109.43 109.09
R1 R2 S1 S2
0.9496 0.9552 0.9447 0.9404

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Intraday Super Star
(Premium Section)
USDJPY is ready to go upside as it is getting bullish pressure. So buy it above resistance.
BUY USDJPY ABOVE 109.87 TARGET 110.02/110.17/110.32 SL BELOW 109.72
.

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Trifid Special
(Premium Section)
Crude oil prices are trading at the lower end and if it breaks its support at $61.05 then it may move further down.
SELL CRUDE OIL BELOW 61.05 TARGET 60.75 SL 61.40

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