TTCM Traders Trusts - traders-trust.com

[ngawurfx]

Crude Oil Touched Its Highest Level Since July. Oil prices climbed to their highest level since July on
Thursday, as buoyant Chinese equity markets encouraged buying, and as Russia's military involvement in Syria
brought a geopolitical risk premium into the market. Syrian troops and allied militias backed by Russian
airstrikes and cruise missiles attacked rebel forces as the government extended a major offensive in the west. It
added to the uncertainty in the Middle East, one of world’s biggest oil-producing regions. The market shrugged
off concern about the higher-than-expected U.S. crude stock build as reported by the U.S. Energy Information
Administration on Wednesday. Underpinning the crude complex was a drop in the dollar after release of the
minutes of the Federal Reserve's most recent policy meeting. A weaker dollar tends to make it cheaper for nonU.S.
investors to buy dollar-denominated assets.

 

[ngawurfx]

EUR/USD levels to watch

As of writing the pair is advancing 0.78% at 1.1364 and a breakout of 1.1400 (psychological level) would target 1.1460 (monthly high Sep.18) and then 1.1714 (high post-PBoC move Aug.24). On the flip side, the immediate support lines up at 1.1224 (55-d sma) followed by 1.1174 (2-month up trend) and then 1.1107 (monthly low Sep.23).

 

[ngawurfx]

IMF meetings are usually held twice a year and are attended by the representatives of IMF and the World Bank. Meetings are open to the press and officials usually talk with reporters throughout the day. A formal statement covering policy shifts and meeting objectives is released after the meetings have concluded. Both the comments and statement can create market volatility;

 

[ngawurfx]

Source Bank of Canada (latest release)

Frequency Released quarterly;
FF Notes This report is highly respected given its source and timing in

relation to interest rate decisions. It can also have predictive qualities regarding future economic conditions because the surveyed firms are selected in accordance with their composition of the nation's GDP;
Why Traders
Care It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment;
Derived Via Survey of about 100 businesses which asks respondents to rate the relative level of general business conditions, such as sales growth, investment in machinery, employment, inflation expectations, and credit conditions;

Also Called Senior Loan Officer Survey;
Acro Expand Bank of Canada (BOC);

 

[ngawurfx]

EUR/USD. The bias is bullish in nearest term but we need a clear break above 1.1410 area to trigger further
bullish pressure aiming at least 1.1460 resistance area. Immediate support is seen around 1.1320 area, another
consistent breakdown below that area would bring the price to neutral zone as direction would become unclear
in nearest term perhaps retesting 1.1270 region.

 

[ngawurfx]

GBP/USD. The bias is bullish in nearest term pespecially if price able to make a clear break above 1.5370
area to trigger further bullish momentum aiming 1.5430 region. Immediate support is seen around 1.5280 area,
another consistent breakdown below that area would bring the price to neutral zone as direction would become
unclear in nearest term perhaps retesting 1.5230 region.

 

[ngawurfx]

USD/JPY. The bias is bullish in nearest term especially if price able to make a clear break above 120.50 area,
to trigger further bullish momentum aiming 120.85 resistance area. Immediate support is seen around 119.90
area, another consistent breakdown below that area would bring the price to neutral zone as direction would
become unclear in nearest term perhaps retesting 119.60 region.

 

[ngawurfx]

USD/CHF. The bias is bearish in the nearest term, immediate support is seen around 0.9560, while immediate
resistance around 0.9640. A clear break below 0.9560 area should trigger further bearish momentum testing
0.9510 area. On the other side, a consistent break and movement above 0.9740 bring the price up to test 0.9780
area.

 

[ngawurfx]

AUD/USD. The bias is bullish in the nearest term, a clear break above 0.7370 is needed to trigger further
bullish momentum targeting 0.7410 area. On the other side, a consistent break and movement below support
area 0.7290 would bring the price down to test 0.7240 area

 

[ngawurfx]

XAU/USD. Bias could be bullish for gold as long as price stiil above MA 50-100-200 on chart H4. But gold
potential to get correction because Stochastic indicator is already overbought area. Immediate resistance level
is seen around 1165, a clear break above that area should trigger further bullish toward 1170 before retesting to
key resistance area at 1180 region. For opposite side, nearest support level at 1150, a clear break below that
area could trigger further bearish toward 1145 before trying to claim key support level at 1134 region.