Trade Diary for the week july 2016 l Gold Future Euro Exchange rate.

It quite a busy outing altogether for currency traders with risk on and demand for safe heaven this month and I still would expect situation to remain subdued for the risk on trades.

Trade Ideas for the Gold Futures

I posted two posts on gold future updates around 1380 and 1332 and both the conditions were fulfilled and price is now in PA zone and I would expect price to remain volatile and react to recent new supply and I would expect the rejection and towards the target around 1305 area

[Also Watch :- Recent Articles on Gold futures ]

Euro dollar trading FOMC Statement

Euro dollar is moving in narrow range and trading just around the range low ahead of 1.0900 support and I would like to keep an eye if there is any rejection from that support and price manage to stay above 1.1050 for a move towards the range high and then possible new direction to new high above the range.

With recent Price Action and FOMC statement due to release next week, I would like to see price reacts to support and we can see bullish price Action in Euro, but still price action is very bearish and I would post an article after the report will be published and Euro is surely to find direction after the report as there is not a lot happening from ECB, and traders are really looking for Fed officials comments for the direction in Euro exchange Rate.

This week is full of fundamental analysis with focus shift on FOMC statement as talks of September hike is really putting risk on as after what happened after "Brexit" referendum has put lot of pressure on Federation and If there is any report telling that of shifting the rate hike to next quarter would really put pressure on U.S dollar and it can retreat from recent levels and Australian dollar would be bought from the recent levels but due to recent talk of Rate cut and recent price action can dilute the comment and we can see price don't react as expected.

Focus is shift on next RBA meeting next week

Trading such scenarios is quite profitable when Price Compressed to supply and rejection are followed by choppy and sideways price action as Pair look for direction ahead of strong fundamentals report and If expectations are not met price usually lack supports and bearish pressure is quite imminent.

Chart

Canadian dollar is all set for new direction as we saw a break above recent range and retreat from these levels but Price has strong support as mention in the blue boxes in the chart and If price manage to break below these areas then I would like to see the approach towards the supply and I would still maintain my bearish outlook for the canadian dollar towards my next target 1.2630.

How to trade Rejection in Forex with recent price action in Canadian dollar

Price has manage to react to the strong areas and rejections are quite volatile and this confirms that new high would probably show the same momentum as it has show in recent weeks.

[Also watch:- How I manage to Pick bearish Price Action In Gold Futures ]

Comex Gold bulls facing headwinds around 1344- Trading Gold Futures

Hi, Quite a while since I update the blog and the reason being quite a dull and choppy price action and now I am watching gold for the past 7 days or so and recent price action facing headwinds If we see a rejection of 1342-45 area, and this bearish rally would continue towards 1295, which is I think strong handle and there would be a decent fight between bulls and bearish to protect this area, but for the time being focus has shifted towards 1345 area and below 1327 which I think need to be cleared first and then we can see more bearish price action to follow through next week.

Rallies followed by Reversals

We do need to understand the overall structure before we can make any decision in trading

Reason I am quite skeptical about this Gold future rally is that Whenever we have strong liquidation break to the upside, we have seen substantial selling interest which increase with minor rallies and Whenever we see price approach a particular supply or demand area after clearing opposite demand aka supply, we see price tend to behave dramatically when It finally gets to the origin of the move and this time we already have a retest where we see compression towards 1345 area, followed by rally towards 1310 area, and recent rally is strong from the lows but I doubt whether It will continue.

Trade alert Australian dollar possible push towards 0.7714 l Trading employment data

Trading Australian employment data - Forex News Trading

Hi, i will update the text later