Forex and comex daily report 8 june 16

http://www.sapforex24.com {DAILY COMEX REPORT (June 8, 2016)}
GFGH
MCX
COMMODITY REPORT
DATE- April 28, 2016
COMMODITY NEWS
INFO@SAIPROFICIENT.COM +919981999934,
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COMMODITY NEWS
 Gold futures were slightly lower in European trade on Tuesday, but held near the
prior session’s two-week highs as market players continued to mull the timing of
the next Federal Reserve rate hike.
 Speaking at the World Affairs Council of Philadelphia Monday afternoon, Federal
Reserve Chair Janet Yellen said that she was optimistic about the overall U.S.
economic outlook and said the central bank plans to raise interest rate hikes, but
she gave no indication on the timing of the rate hikes.
 Global stocks moved higher on Tuesday after Federal Reserve (Fed) chair Janet
Yellen pushed back expectations for policy tightening. While repeating on Monday
that she expected interest rates to gradually rise, Yellen refrained from
implementing the time frame of “in the coming months” as she had done in a May 27
 Oil prices pushed higher on Tuesday as investors continued to weigh the cuts in
production from attacks on Nigerian pipelines and expectations for a decline in U.S.
crude inventories bolstered sentiment.
 The American Petroleum Institute will release its inventories report later in the day,
while Wednesday’s government report could show crude stockpiles fell by 3.5
million barrels in the week ended June 3.
 China's foreign exchange reserves shrank for the first time in three months in May,
falling to the lowest level since December 2011, official data showed on Tuesday.
 China’s foreign exchange reserves dropped by $27.98 billion last month to $3.19
trillion, according to data released by the People's Bank of China. Market experts
suggested that the drop was due to the stronger dollar against the yuan.
Market Outlook (Wednesday, June 8)
 China is to release a closely-watched report on the trade surplus.
 The U.S. Energy Information Administration is to release its weekly report on oil and
gasoline stockpiles.
 The U.K. will publish data on manufacturing production.

 The U.S. is to produce data on the Job Openings and Labor Turnover Survey.
 “Gold holds near 2 week high on fed rate caution”
Technical outlook:– Gold futures were slightly lower in European trade on
Tuesday, but held near the prior session’s two-week highs as market players continued to
mull the timing of the next Federal Reserve rate hike. Speaking at the World Affairs Council
of Philadelphia Monday afternoon, Federal Reserve Chair Janet Yellen said that she was
optimistic about the overall U.S. economic outlook and said the central bank plans to raise
interest rate hikes, but she gave no indication on the timing of the rate hikes.
Resistance2 Resistance1 Pivot point Support1 Support 2
1265 1255 1247 1235 1210
INDICATORS
RSI is sustaining near in selling territory, supporting the upcoming upward trend in the
pair. In MACD Prices are sustaining in the buying territory, support the upper side
movement in the market.
STRATEGY
GOLD is looking bullish on charts for next day.
GOLD

“Brent holding above $50 before API stockpile data”
Technical outlook – Oil futures were steady near seven-month highs on
Tuesday, with Brent holding above the $50 level ahead of the latest U.S. crude inventory
figures. Brent futures were up 25 cents, or 0.49%, at $50.80, while U.S. crude was up 22
cents at $49.91 at 0645 ET.. American Petroleum Institute crude stockpile figures are due
out later Tuesday and the U.S. Energy Information Administration is to release its weekly
supply report on Wednesday. API inventories are projected to have fallen by 3.5 million
barrels last week, marking a third straight weekly drop.
Resistance2 Resistance1 Pivot point Support1 Support 2
51.05 50.75 50.50 50.05 49.45
INDICATORS
RSI is sustaining near in buying territory, supporting the upcoming upward trend in
the pair. In MACD Prices are sustaining in the upward territory, support the lower
side movement in the market.
STRATEGY
CRUDE OIL is looking bullish on charts for next day.
CRUDE OIL

SAPFOREX 24
COMMODITY R2 R1 PIVOT S1 S2 TREND
GOLD 1265 1255 1247 1235 1220 BULLISH
CRUDEOIL 51.05 50.75 50.50 50.05 49.45 BULLISH
SILVER 16.95 16.60 16.40 16.05 15.65 BULLISH
NATURAL GAS 2.505 2.470 2.447 2.385 1.335 BULLISH
COPPER 2.0615 2.0545 2.0490 2.0425 2.0365 BEARISH

The information and views in this report, our website & all the service we provide are believed to
be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion.
Users have the right to choose the product/s that suits them the most.
Investment in COMEX has its own risks. Sincere efforts have been made to present the right
investment perspective. The information contained herein is based on analysis and up on sources
that we consider reliable. We, however, do not vouch for the accuracy or the completeness
thereof. This material is for personal information and we are not responsible for any loss incurred
based upon it & take no responsibility whatsoever for any financial profits or loss which may
arise from the recommendations above. The COMEX price projections shown are not necessarily
indicative of future price performance. The information herein, together with all estimates and
forecasts, can change without notice.
Sap forex24 does not purport to be an invitation or an offer to buy or sell any financial
instrument. Analyst or any person related to Sap forex24 might be holding positions in the
COMEX recommended. It is understood that anyone who is browsing through the site has done
so at his free will and does not read any views expressed as a recommendation for which either
the site or its owners or anyone can be held responsible for.
Our Clients (Paid or Unpaid), any third party or anyone else have no rights to forward or share
our calls or SMS or Report or Any Information Provided by us to/with anyone which is received
directly or indirectly by them. If found so then Serious Legal Actions can be taken.
Any surfing and reading of the information is the acceptance of this disclaimer.
All Rights Reserved.
DISCLAIMER

http://www.sapforex24.com {DAILY FOREX REPORT (JUNE 8, 2016)}

CURRENCY NEWS
 The pound moved higher as two new polls on the June 23 referendum on the U.K.’s
membership in the European Union showed the “remain” camp with a slight lead,
reducing jitters that the vote could lead to a Brexit.
 Global stocks moved higher on Tuesday after Federal Reserve (Fed) chair Janet
Yellen pushed back expectations for policy tightening. While repeating on Monday
that she expected interest rates to gradually rise, Yellen refrained from
implementing the time frame of “in the coming months” as she had done in a May
27.
 China's foreign exchange reserves shrank for the first time in three months in May,
falling to the lowest level since December 2011, official data showed on Tuesday.
 China’s foreign exchange reserves dropped by $27.98 billion last month to $3.19
trillion, according to data released by the People's Bank of China. Market experts
suggested that the drop was due to the stronger dollar against the Yuan.
 Hillary Clinton clinched the Democratic presidential nomination after obtaining
the required 2,383 delegates, making her the first female nominee to lead the
White House. Clinton had reached the minimum number of delegates required
even before primaries in six states on Tuesday, including California and New
Jersey.
 The GBP/USD currently trades above 1.4500 after a mysterious rally at 04:10 GMT
saw the British Pound spike higher versus all other major currencies. The
GBP/USD spiked by more than 180 pips, as the newswires cited a possible “fat
finger” error, which in turn generated liquidation on automatic stop loss orders.
 U.S. stock futures pointed to a higher open on Tuesday, tracking strong gains in
European and Asian equities, after dovish comments from Federal Reserve Chair
Janet Yellen cooled near-term U.S. rate hike bets and as oil prices firmed above the
$50-level.
Market Outlook (Wednesday, June 8)
 Japan is to release data on the current account as well as revised data on
first quarter growth.
 China is to produce data on the trade balance.
 The U.K. is to release data on manufacturing and industrial production.
 Canada is to report on building permits.

“NZD/USD above 0.69 reclaimed”
Technical Outlook: - The New Zealand Dollar launched sharply higher against its US
namesake, with prices issuing the largest daily advance in four months. Near-term
resistance is at 0.6945, the 38.2% Fibonacci expansion, with a break above that opening the
door for a test of the 0.7029-54 area marked by the 50% level and the April 19 high.
Alternatively, a move below the 23.6% Fib at 0.6842 paves the way for a challenge of the
14.6% expansion at 0.6778.
SUMMARY
The primary trend of NZD/USD is Bearish on daily charts and past few trading session
prices are sustaining at lower levels. NZD/USD found some support at 0.6950, but it will
remain above that level for long. If it breaks low 0.6910 next targets are 0.6870, then
0.6835.
INDICATORS
RSI is sustaining near in buying territory, supporting the upcoming upward trend in the
STRATERGY
NZD/USD is looking BULLISH on charts for next day.
NZD/USD
TECHNICAL
LEVELS
PROPERTIES VALUES
Support 2 0.6910
Support 1 0.6955
Pivot Point 0.6980
Resistance 1 0.7020
Resistance 2 0.7050

“EUR/USD risks more losses on sticky U.S CPI”
Technical Outlook: - The Euro turned higher against the US Dollar as expected after
prices found support below the 1.11 figure, with the surge catalyzed by disappointing US
jobs data. Prices have now invalidated the series of lower highs and lows carved out since
early May, warning that the near-term bias has been altered. Near-term resistance is at
1.1401, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis
opening the door for a challenge of the 50% level at 1.1495.
SUMMARY
The primary trend of EUR/USD is Bearish on daily charts and past few trading session
prices are sustaining at lower levels. EUR/USD found some support at 1.1335, but it will
remain above that level for long. If it breaks low 1.1320 next targets are 1.1295, then
1.1260.
INDICATORS
RSI is sustaining near in buying territory, supporting the upcoming upward trend in the
STRATERGY
EUR/USD is looking Bullish on charts for next day.
TECHNICAL
LEVELS
PROPERTIES VALUES
Support 2 1.1295
Support 1 1.1335
Pivot Point 1.1360
Resistance 1 1.1390
Resistance 2 1.1430
EUR/USD

SAPFOREX 24
PAIR R2 R1 PIVOT S1 S2 TREND
EURUSD 1.1440 1.1385 1.1360 1.1310 1.1275 BULLISH
USDJPY 108.05 107.50 107.15 106.85 106.40 BEARISH
GBPUSD 1.4635 1.4595 1.4555 1.4520 1.4475 BULLISH
AUDUSD 0.7550 0.7495 0.7450 0.7415 0.7375 BULLISH
USDCAD 1.2790 1.2760 1.2732 1.2705 1.2665 BEARISH
USDCHF 0.9725 0.9685 0.9650 0.9620 0.9580 BEARISH
NZDUSD 0.7050 0.7020 0.6980 0.6955 0.6910 BEARISH

The information and views in this report, our website & all the service we provide are
believed to be reliable, but we do not accept any responsibility (or liability) for errors of
fact or opinion. Users have the right to choose the product/s that suits them the most.
Investment in currency has its own risks. Sincere efforts have been made to present the
right investment perspective. The information contained herein is based on analysis and up
on sources that we consider reliable. We, however, do not vouch for the accuracy or the
completeness thereof. This material is for personal information and we are not responsible
for any loss incurred based upon it & take no responsibility whatsoever for any financial
profits or loss which may arise from the recommendations above. The currency price
projections shown are not necessarily indicative of future price performance. The
information herein, together with all estimates and forecasts, can change without notice.
Sap forex24 does not purpose to be an invitation or an offer to buy or sell any financial
instrument. Analyst or any person related to Sap forex24 might be holding positions in the
currency recommended. It is understood that anyone who is browsing through the site has
done so at his free will and does not read any views expressed as a recommendation for
which either the site or its owners or anyone can be held responsible for.
Our Clients (Paid or Unpaid), any third party or anyone else have no rights to forward or
share our calls or SMS or Report or Any Information Provided by us to/with anyone which
is received directly or indirectly by them. If found so then Serious Legal Actions can be
taken.
Any surfing and reading of the information is the acceptance of this disclaimer.
All Rights Reserved.
DISCLAIMER

Forex and comex daily report 8 june 16

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