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      10/06/21 10:53

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    Joined 07/10/22 09:46
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    • Gold and wheat fall back as oil continues on an upward course While oil prices are still heading higher, wheat and gold have fallen back. Source: Bloomberg  Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 07 October 2022  Gold falters as late September bounce fades The price has reversed from the 50-day simple moving average (SMA), with the potential forming for a fresh leg lower. The bounce from the September lows faltered at $1725, putting a move back to $1685 into view. Below this the lows from September would come into play, down towards $1630. It would require a reversal back above $1725 to suggest that a fresh bounce is underway. Source: ProRealTime WTI clambers above 50-day MA The bounce from the September lower low has now pushed on past the 50-day SMA, putting the price above this level for the first time since late June. Gains in September stalled at $89, so a move above here would help to reinforce the bullish view. It would then put the 200-day SMA at $97.06 into play as the next target, coinciding closely with the highs from late August at $97.30. Should the price reverse from current levels then a lower high would arguably be created, or at least an interim double-top formation around $89, which might then suggest a reversal back to $76.50 is in progress. Source: ProRealTime Wheat tests trendline support Wheat has been on a steadily-rising trend from its August low, although it is testing rising trendline support at present with its drop back to 890. If this marks a trendline break then 874 and 825 come into view as possible support. Before 825, the price may encounter support at the rising 50-day SMA (currently 838). A rebound back above 900 revives the uptrend and puts last week’s highs around 930 into play as an upside target, along with the 200-day SMA (currently 930).
    • EUR/USD, GBP/USD and AUD/USD reverse lower after recent rebound EUR/USD, GBP/USD and AUD/USD reverse lower as the dollar comes back into prominence. Source: Bloomberg   Forex United States dollar Market trend EUR/USD GBP/USD Pound sterling  Joshua Mahony | Senior Market Analyst, London | Publication date: Friday 07 October 2022  EUR/USD rolling over as dollar starts to come back into strength EUR/USD has been on the back foot since the Tuesday rise into parity, with the bears coming back into prominence as markets start to roll over once again. The long-term trajectory evident over the course of this year brings a clear bearish bias, and thus the weakness we are seeing from here plays into that negative view. Meanwhile, commentary from the Federal Reserve (Fed) members highlight the expectation that they will continue to remain steadfast on their push to drive down inflation via rate increases. Today brings a fresh update from the US jobs market, with traders keeping a close eye out for any pick up in earnings growth and unemployment. With the dollar coming back into prominence, the bearish trend is expected to continue here, with the wider downtrend on broken in the event that the price breaks up through the $1.0198 swing high. Until then, bearish trades are favoured, with the price expected to continue this downward trajectory as we move forward. Source: ProRealTime GBP/USD starts to weaken after period of strength GBP/USD is also on the back foot as we head towards the weekend, with dollar dominance once again looking likely to take hold. The recovery of the post-budget slump has provided some relief from feelings that the pair could be in freefall on concerns of fiscal stability. However, irrespective of the impact played by the budget, the wider bearish trajectory remains in play as traders prefer the haven dollar. With that in mind, another leg lower is favoured here, with the bearish reversal in the stochastics giving us a fresh sell signal after moving below the 80 threshold. This bearish outlook holds unless we see the price rise through the $1.2277 level. Source: ProRealTime AUD/USD heads lower, with the price closing in on two-year low AUD/USD has lagged many of its peers of late, with the price failing to provide the kind of rebound we have seen for EUR/USD and GBP/USD last week. With the Reserve Bank of Australia (RBA) having raised rates by just 25 basis points (bp) this week, it is clear that the pace of tightening in Australia is significantly less rapid than at the Federal Open Market Committee (FOMC). We are now seeing the pair head lower, with the price approaching the $0.6363 low established last Wednesday. A break below that level would provide a fresh sell signal, with stops subsequently placed above the recent retracement high of $0.6547. As such, for today the key question is whether we see the price break that 0.6363 low to set a fresh two-year low. Source: ProRealTime
    • Hi @greenscorpio1000 Thanks for reaching out.  You can use the platform to check how much the daily charge would be. You can add the Swap bid (Rate used to calculate your overnight funding) on the platform by searching Cocoa- London >> Right click on it and add to Watchlist >> Add the Watchlist to your Workspace.  Once this is done, click on the three lines next to 'Market' on the top left and add Swap bid/Swap offer to view the expected daily rate. You simply take this rate and multiply it by your size to estimate the daily interest payment on your account.  Overnight Funding = Bet Size x Rate  Negative number is a charge Positive Number is a credit Using an example with the figures shown in the above screenshot, if you are short London Cocoa with  bet size GBP2, your overnight funding will be GBP2 x -2.36 = -GBP 4.72 charge We have an example on How we calculate Overnight Funding for Commodities on our website. This will give you a clear indication if this will be a credit or a debit in your account.  All the best, OfentseIG    
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