Duration: 2 weeks
- working your way through lessons;
- doing practical assignments;
- discussing trading system specifics;
You Will Get:
Today we have high market volatility, because yesterday US market was closed and became thin, and when asia session started, power of market is became strong, we got big trend impulse that broke stop levels of some local players, which increased volatility. But we can’t say that we can expect this trend continuation, because dollar and oil now is trading on resistance level, as gold is closer to its support.
Market had strong technical reboud down from resistance 458/62 and now will go to test buyers support 429/33. Above current price we have too many of resistance levels, through that it will be too difficult for market to break up
This week dollar will be trading sideways between 1.0520 – 1.0780, because of a lack of important news. Now market is waiting for Trump speech about future of new tax rates for business, that he will have on 28 february. On Wednesday we have “FOMC Meeting Minutes”, that will predict future of Fed % rate, but as Yellen told at previous week a twice in congress that: “Futures of new business tax rates is now most important for Fed and we need to include them in our future policy”.
Since last week we received WASDE news, where wheat increased export by 5%, due to that the price began to grow and further its target now is on level 451 and next resistance 458/462. In soybean we have not got any changes. Since the last news we have not been able to break the resistance of 1065, where the market is trading at the moment, so it looks overbought, with the potential development of the downward trend to support 1012. Sugar is trading in a broad sideways trend between level of resistance 21.55 and support 20.10. This trend could be a figure of a "double top" with trend turn down or "flag", continuing the upward trend. This week, on Wednesday, we have news "Sugar and Sweeteners Outlook: February 2017", which will determine the future of sugar price.