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Gold Spot: Going for $ 1,365 reached last night!

At the same time, silver hit a high in 30 years, just under $ 25 per ounce. As the dollar weakens, the demand for "insurance" is that the precious metals increases.

We will quickly set about the power of this rise. The gold will they be able to exceed the $ 1400 this time?


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PS 1st November :
Former resistance of $ 1,350 an ounce is now playing a supporting role logically major. The pass down a sell signal would be for me while bouncing me on this level seem to be good entry points.

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USD / CAD: Strong Support Around C $ 1.0170 to Be Tested: Stay Focus

Last Friday, the U.S. GDP is perfectly clear according to consensus, + 2%, but can be explained largely by changes in inventories, which, after all, is not inconsistent with the approach of Christmas. But it still shows that the American economy is not quite "out of the wood" as saying the Anglo-Saxon.
But Friday is also the Canadian GDP has been published. This is done on a monthly basis in th northern neighbors. And again, little surprise, with an increase of 0.3%, as expected (these are figures for the month of August).

The overall movement of the exchange market was also repeated on the USD / CAD, and the Canadian Dollar (the Loonie, the bird that appears on Canadian coins) appreciated without reaching break the large bracket on the C $ 1.0170. I went to purchase this level several times Friday, but the gains have not been consistent. This Sunday evening, the Loonie regains its progression, with a decidedly unloved dollar, while the week will be the densest in the new year: ISM employment figures, U.S. elections, especially measures Fed.

USD / CAD, 10/31/2010 (30Mn)

It is important to note that the USD / CAD is not volatile, and this past Just over a year now. In 2010, the lowest was shot in April at C $ 0.9930, and the highest end of May to C $ 1.0850. The movements are of very low amplitude, and the courts always oscillates near parity between the two dollars. With a globally weak dollar, rising commodities of the country's preference for healthy (low debt, export economy ...), the Loonie could just in fact benefit. Remains whether the situation will continue after the Fed has communicated its plan of action and specified the exact content of the QE2.


Under a downward trendline, with indicators turned down, and after multiple failures rebound Friday, it is clear that management is most likely due south. This does not mean I'll blindly go short. Because courts truly reach the lower area in which exchanges take place over a year, so unless a terrible phase for the Dollar latches, the probabilities Bounce seem more important than a continuation of the fall.

I'll leave it at that tonight, because the peaceful sleep is worth a small gain ...
For tomorrow I will be watching 2 supports key areas: C $ 1.0170 and C $ 1.0150-1.0155 . These levels are highly likely to cause rebound, I am of the opinion to go to buy at these levels if conditions are favorable . Furthermore, these levels are close enough to afford to place stoploss little distant.
It will still be wary of a possible acceleration of the downtrend, I do not favor at the moment.
My goals are very ambitious, because after all, it is likely that the attention remains on Monday.
I aim to return the C $ 1.0200 initially, before a possible test of C $ 1.0250.
If the U.S. Dollar managed to exceed this level of 1.0250, we can certainly talk about change in trend.


Good trades and tomorrow, for a wonderful November!



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U.S. GDP for the 3rd Quarter: + 2% in line with the consensus

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EUR / CHF: Short@1.3695

I open a short position on EUR / CHF, which takes advantage of the weakening of risk aversion on Thursday, particularly through weekly listings U.S. unemployment fell sharply.

resistance of 1.3700 CHF may play a role is currently very much the case, then my position is protected by resistance the next capital of CHF 1.3750.

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Corn Futures (Dec 10): + 40% over the year, +80% over the period

The Corn (maize) is thriving this summer, rising quite dramatic, first joint with that of Wheat (wheat), then alone. For the past several weeks, however, movements are much reduced amplitude, and it will be a landmark event sufficient to break the deadlock, just like in the case of the futures contract on wheat raised yesterday evening. Maybe he should wait for that the USDA report next November 9, or any unpleasant surprises in the Midwest climate rich cultures.

It is important to note that USDA has reduced its crop forecasts, expected down 3.4% compared to 2009, while inventories are at their lowest since 13 years in the U.S..

Corn Futures (December 2010), 10/27/2010 (Daily)

The trend is still upward, since the courses are widely above the trendline MT growth and major moving averages. I notice all the same output overbought zone. In the short term, the situation is completely blocked, there is still bleak plain boredom of the trader, the fruitless wait ... But the wait lasts longer, plus the next move is likely to be powerful.

Corn Futures (December 2010), 10/27/2010 (H4)

indicators are totally flat, and reflect the current phase of hesitation in the market. One thing is certain, this pause is needed.

The current consolidation if it were to continue would not necessarily very good sign, from a bullish perspective. I do not like
take buy position in a movement already well advanced, and at historically high (it is only in 2008 that prices were higher than they are today ). But I am very willing to buy a bullish franc which would exceed the $ 588 resistance. In this case, I'm positive on the contract with the area of $ 600-605 to achieve in the immediate future. If buyers are able to push prices beyond, we could see a new bullish leg should take us much higher. But for that, no secrets, it will take a real change in market conditions.


I have no short position planned for now, contrary to the contract for December Wheat.


Have a Good Trading Session.

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Wheat Futures: Drought in the Great Plains could revive the uptrend

(Update1) I addressed the issue of future farm in August, when the euphoria caused by the fires and drought in Russia. Having arrived late on wheat (the main crop in Russia and most logically impacted on world markets), I chose to refer to corn (first U.S. culture). The increase did not wait very long. I will discuss the futures contract maturing in December on corn tomorrow, I just point out that prices have peaked for now. In case of breach of $ 588, a new bullish phase could be implemented.

Indeed, if grains are again subject to strong upward pressure, because the drought is affecting both the U.S. Great Plains, which is likely harm the amounts collected in respect of winter crops. The offer may be less than expected by the USDA, which the market expects a revised forecast for the next report submitted on November 9. Note that 47% of U.S. crops are in a "good to excellent", against 62% last year, down significant. At the same time, demand remains strong, particularly from China.

Wheat Futures (December 2010), 10/26/2010 (Daily)

On this day chart, it is clear that the reality does Another is that the range, the flat trading, non-event, short of boredom speculator. $ 644-650 each approach has led to a rebound, which is therefore the lower bound of the range in question. The indicators are flat or rising back through the meeting date, very positive for wheat, Bullish aspect seems to me to promote in the coming sessions. My
relatively optimistic view can not be maintained if the output range from below. The output of the blue area should prompt many players to go short with a possible return on the $ 600, but this scenario is currently not the one I prefer.

Wheat Futures (December 2010), 10/26/2010 (H4)

What I'll watch more, it will be the next test of $ 700 test, which has now been synonymous with failure of the bulls. In contrast, the main positive signal that I note today is the release of bearish channel which evolved during the past few days. Here is what I think is possible to envisage: a new test of $ 700, ideally within an hour of volumes>> If the test is successful, then I am bullish with at least $ 720 in the line of sight and probably $ 730 (very short term, therefore).


For, truly, a new underlying trend is emerging, it will therefore be

• that courts blithely exceed $ 750 and the contract closed above and quickly take the direction of $ 785 then $ 840, my next major resistance.
• or supply is quite abundant (unlikely now, but the option can not be excluded, especially because sometimes large quantities of grain lost by compilers are found, it can also ship appear when the impact is important), which could result in downward phase in case of breakage of the lower bound of the range, ie $ 644-650 mentioned above.

I'll come back tomorrow on corn, which is, I think, in a configuration even more interesting in full swing upward for several weeks.

In the meantime, good night and good trades.

>> Update1: 27/10/2010 @ 17:45: The resistance of $ 700 was taken, but can not go much higher yet. Caution is in order.