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Daily Market Reflection
18th
August 2017
Commodity Market Outlook
Fundamental News
On Thursday Gold prices ticked higher, bounce back toward their peak
level in more than two months after outcomes from the Federal
Reserve's July meeting indicated at a delay in further interest rate
hikes.
On Thursday Oil prices ticked higher, but sustained close to their
lowest level in three weeks because of the worries over growing
production in the U.S. and elsewhere disappoint sentiment.
International Brent crude futures were trading at $50.08 per barrel,
down 32 cents from their previous settlement.
.
.
 Gold prices rose sharply because of investors push back Fed
Reserve interest rate hike expectations.
 Oil edges up but firm close to 3week lows on rising U.S. crude
production.
 Dollar on back foot after Fed outcomes raise rate hike suspects.
 EURO ticked higher because of weaker Dollar.
 .
Event Calendar (18th August 2017)
Time Currency Event Forecast Previous
06:00PM CAD CPI m/m 0.0% -0.1%
06:00PM CAD Common CPI y/y 1.4%
06:00PM CAD Median CPI y/y 1.6%
06:00PM CAD Trimmed CPI y/y 1.2%
07:30PM USD
Prelim UoM Consumer
Sentiment
94.0 93.4
07:45PM USD
FOMC Member Kaplan
Speaks
COMEX
Commodities Date Date % Chg
16-08-17 17-08-17
GOLD 1286.96 1285.25 -0.13%
SILVER 17.10 17.02 -0.47%
CRUDE 47.07 46.80 -0.57%
COPPER 2.9603 2.9338 -0.90%
Global Commodities & Currencies
Commodities/
Currencies
Close
5PM
Previous % Chg
LEAD 2482 2512.25 -1.20%
ALUMINIUM 2081.75 2086.50 -0.23%
ZINC 3089.75 3115.50 -0.83%
NATURALGAS 2.904 2.909 -0.17%
PALLADIUM 919.50 921.38 -0.20%
PLATINUM 970.32 974.79 -0.46%
GBPUSD 1.2853 1.2902 -0.38%
EURUSD 1.1697 1.1777 -0.68%
USDJPY 110.14 109.90 +0.22%
EURJPY 128.86 129.41 -0.43%
GBPJPY 141.60 141.78 -0.13%
GBPCHF 1.2443 1.2445 -0.02%
USDCHF 0.9676 0.9644 +0.33%
USDCAD 1.2641 1.2611 +0.24%
EURGBP 0.9094 0.9126 -0.35%
CHFJPY 113.85 113.93 -0.07%
EURCHF 1.1321 1.1357 -0.32%
AUDUSD 0.7919 0.7935 -0.20%
EURAUD 1.4775 1.4840 -0.44%
GBPAUD 1.6253 1.6264 -0.07%
COMEX GOLD
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currency Entry Exit P/L
16/08 GBPUSD(L) 1.2900 1.2885 SL
Trifid special
Date Commodity Entry Exit P/L
16/08 SILVER(S) 16.60 - UNEXE
For our next calls click here……..

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COMEX Overview
COPPER
R1 R2 S1 S2
2.9810 3.000 2.9160 2.8564
SILVERGOLD
CRUDE
R1 R2 S1 S2
47.50 48.30 46.00 45.55
R1 R2 S1 S2
1295 1305 1275 1265
R1 R2 S1 S2
17.30 17.60 16.80 16.65
Copper also corrected after yesterday rally earlier
today. On the upside resistance is seen around 2.9800
levels if breaks will test levels of 3.000.On the
downside immediate support is seen around 2.9160
levels.
Crude is trading below major trend line daily support.
On the upside immediate resistance is seen around 47.30
levels. On the downside support is seen around 46 any
break will drag it to levels of 44 in coming session.
Gold bounced back yesterday after testing support levels
of 1265 and closed around highs. On the downside 1275
is immediate support seen if breaks may test levels of
1265 .On the upside 1295 remains strong resistance .
Silver also traded with bullish sentiment yesterday. On
the downside 16.80 is immediate support, if broken can
test levels of 16.50 .On the upside 17.30 is immediate
resistance seen if breaks may test levels of 17.70 in
upcoming sessions.

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Currencies Overview
GBPUSD EURUSD
R1 R2 S1 S2
1.2982 1.3000 1.2800 1.2760
GBPUSD pair was indecisive yesterday. Price bounced-off
the trend line support as on daily chart above suggests a
potential bullish bias. Immediate resistance is seen around
1.2950. A clear break above that area could trigger further
bullish pressure testing 1.3000. On the downside, 1.2865
remains a key support.
R1 R2 S1 S2
1.1780 1.1844 1.1640 1.1600
USDJPY
R1 R2 S1 S2
111.00 111.60 109.20 108.50
USDJPY pair failed to continue its bullish momentum
yesterday, bottomed at 110.03 and hit 109.66 earlier today.
Price revisits the trend line support as on daily chart above, if
breaks below 109.50could trigger further bearish pressure
testing 108.15 areas. Immediate resistance is seen around
110.21.
USDCHF
R1 R2 S1 S2
0.9772 0.9800 0.9585 0.9531
USDCHF pair attempted to push higher yesterday topped at
0.9765 but whipsawed to the downside, closed lower at
0.9657 and hit 0.9641 earlier today. The bias is bearish in
nearest term testing 0.9620 – 0.9550 support area.
Immediate resistance is seen around 0.9700.
EURUSD pair attempted to push lower yesterday
bottomed at 1.1681 but closed higher at 1.1765 and hit
1.1790 earlier today. Immediate support is seen around
1.1607.On the upside resistance is seen around 1.17800
levels.

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Intraday Super Star
(Premium Section)
USDJPY is forming inverse Head & Shoulder pattern near Daily Support.
BUY USDJPY ABOVE 110.40 TARGETS 110.55/110.70/110.85 SL 110.25.

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Trifid Special
(Premium Section)
Crude has broken major trend line Support on Daily.
SELL CRUDE BELOW 46.50 TARGET 46.30 SL 46.70.

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