Comex Forex Update report-02

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Daily Market Reflection
2nd
June 2017
Commodity Market Outlook
Fundamental News
On Thursday Gold prices drag down from the five week peak of
previous session, because of the dollar recovered some ground ahead of
a string of U.S. data due later in the day and on Friday amid rising
expectation for a June interest rate hike by the Federal Reserve.
On Thursday Oil prices climb, regaining from three week lows after
industry data showed a huge decline in U.S. crude inventories,
suggesting that the largest oil market of the world could be prop up
faster than expected. Brent crude futures were trading at $50.74 per
barrel, down 23 cents, from their last settlement.
 Gold prices slip from 5 week peak on stronger dollar.
 Oil prices climb after huge decline in U.S. inventories.
 Dollar steady on some negative U.S. economic data overnight.
 Pound drop before U.K. election.
Event Calendar (2nd June 2017)
Time Currency Event Forecast Previous
02:00PM GBP Construction PMI 52.7 53.1
06:00PM CAD Trade Balance 0.0B -0.1B
06:00PM USD
Average Hourly Earnings
m/m
0.2% 0.3%
06:00PM USD
Non-Farm Employment
Change
186K 211K
06:00PM USD Unemployment Rate 4.4% 4.4%
06:00PM USD Trade Balance -45.5B -43.7B
COMEX
Commodities Date Date % Chg
31-05-17 01-06-17
GOLD 1268.50 1266.25 -0.18%
SILVER 17.30 17.14 -0.92%
CRUDE 48.73 48.44 -0.60%
COPPER 2.5643 2.5597 -0.18%
Global Commodities & Currencies
Commodities/
Currencies
Close
5PM
Previous % Chg
LEAD 2104.50 2115.75 -0.53%
ALUMINIUM 1924.25 1931.75 -0.39%
ZINC 2559.75 2602.50 -1.64%
NATURALGAS 3.125 3.109 +0.51%
PALLADIUM 814.05 816.23 -0.27%
PLATINUM 940.10 944.95 -0.51%
GBPUSD 1.2848 1.2878 -0.23%
EURUSD 1.1226 1.1245 -0.17%
USDJPY 111.13 110.93 +0.18%
EURJPY 124.78 124.77 +0.01%
GBPJPY 142.77 142.83 -0.04%
GBPCHF 1.2458 1.2466 -0.06%
USDCHF 0.9691 0.9679 +0.12%
USDCAD 1.3498 1.3496 +0.01%
EURGBP 0.8736 0.8733 +0.03%
CHFJPY 114.63 114.60 +0.03%
EURCHF 1.0880 1.0885 -0.05%
AUDUSD 0.7398 0.7396 +0.03%
EURAUD 1.5172 1.5206 -0.22%
GBPAUD 1.7374 1.7411 -0.21%
COMEX GOLD
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currency Entry Exit P/L
31/05 EURUSD(L) 1.2260 - UNEXE
Trifid special
Date Commodity Entry Exit P/L
31/05 CRUDE(S) 48 48.80 TARGET
For our next calls click here……..

COMEX Overview
COPPER
R1 R2 S1 S2
2.6150 2.6350 2.5298 2.4800
SILVERGOLD
CRUDE
R1 R2 S1 S2
50.00
49.40
51.00 47.90 46.70
R1 R2 S1 S2
1276 1285 1257 1252
R1 R2 S1 S2
17.45 17.54 16.85 16.60
Copper is consolidating inside its parallel channel seen
on Daily. On the upside it has resistance 2.6100 , any
break will take it to 2.6300 .On the downside it has
support around 2.5200 levels, any break will drag it to
levels of 2.4800.
Crude yesterday traded with negative bias but closed
above 49$ mark. On the upside 50$ mark remains
resistance, any break will test levels of 51.50.On the
downside any break below 48.50 will drag it to levels of
47 $ levels. Over all bias remains negative for Crude.
Gold price’s corrected yesterday to test its major support
area of 1260. On the Upside it has resistance around 1272
any break will take to levels of 1285.On the downside
any break below 1260 will drag it to level of
1250.Overall outlook is bullish for Gold in coming
sessions.
Silver also corrected yesterday to test its Diagonal trend
line Support around 17.20 levels. On the Upside it has
resistance around 17.40 any break will take to levels of
17.54.On the downside it has support around 17.20 any
break will test levels of 17.00.Overall trend remains
positive.

Currencies Overview
GBPUSD EURUSD
R1 R2 S1 S2
1.2936 1.3039 1.2738 1.2700
GBPUSD pair attempted to push lower yesterday bottomed at
1.2768 but whipsawed to the upside and closed higher at
1.2890. The key support is at 1.2780 and 1.2900 key
resistance so far. Immediate support is seen around 1.2850.
R1 R2 S1 S2
1.1267 1.1300 1.1163 1.1130
USDJPY
R1 R2 S1 S2
111.60 112.20 110.10 109.50
USDJPY pair was indecisive yesterday. The bias remains
neutral in nearest term but as long as stay below the trend
line resistance and 112.00. Immediate resistance is seen
around 111.20. A clear break above that area could trigger
further bullish pressure testing 111.70 – 112.00 region
.Immediate support is seen around 110.50.
USDCHF
R1 R2 S1 S2
0.9770 0.9800 0.9645 0.9610
USDCHF pair had a bearish momentum yesterday
bottomed at 0.9669 and hit 0.9664 earlier today's session.
The bias is bearish in nearest term testing 0.9650 – 0.9600
region. Immediate resistance is seen around 0.9695.
EURUSD pair attempted to push lower yesterday
bottomed at 1.1109 but whipsawed to the upside and
closed higher at 1.1184. The bias is neutral in nearest term
probably with a little bullish bias testing a trend line
resistance and 1.1215 areas as on H1 chart above.
Immediate support is seen around 1.1160.

Intraday Super Star
(Premium Section)
BUY USDCAD ABOVE 1.3690 TARGETS 1.3705/1.3720/1.3735 SL 1.3670
USDCAD formed Symmetrical triangle pattern around Daily Support.
BUY USDCAD ABOVE 1.3530 TARGETS 1.3545/1.3560/1.3575 SL 1.3515

Trifid Special
(Premium Section)
Crude has formed Head & Shoulder Pattern on Intraday Charts.
SELL CRUDE BELOW 47.70 TARGET 47.50 SL 47.90

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Comex Forex Update report-02

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