Things Could Get Choppy Towards The End of the Week

All eyes are on the Non-Farm Payroll announcement due out at the end of this week. The Non-Farm Payroll (NFP) is historically the largest market moving event on a trader’s calendar; NFP is released by the US Department of Labour each month and represents the number of people on the payroll of non-agricultural business. Market participants will be keeping a close eye on these numbers in order to gauge whether the Fed will start to consider a rate hike should the number have improved.

This week also marks the end of the third quarter which could mean we may see some squaring and re-positioning going into October.

It could be very volatile for the remainder of the week! The notable events to keep an eye on for the rest of the week include:

  • AUD
    • Retail Sales – 1:30AM GMT Fri 2 Oct
  • USD
    • ADP Employment Change – 12:15PM GMT Wed 30 Sept
    • Fed Chair Yellen Speaks – 7:00PM GMT Wed 30 Sept
    • Non-Farm Payroll – 12:30PM GMT Fri 2 Oct
  • GBP
    • Manufacturing PMI – 8:30AM GMT Thu 1 Oct
    • Construction PMI – 8:30AM GMT Fri 2 Sept
  • JPY
    • Manufacturing Index – 11:50PM GMT Thu 1 Oct

 

Brent Oil: the $47 level is key

Brent has been in a sideways range for most of September with price capped at $50.20 and $47.

Brent in a range for September

Brent in a range for September

Right now, the best trading plays are at the edges of price structure. Any volatility and breaks out of the range may give some opportunities on retests of the broken levels.

S and P Futures: Broken support level

The S and P futures broke through September’s lows and looks like it is retesting that support level from the underside. There is an ABCD pattern in play which completes at 1835.

S and P breaks support

S and P breaks support

EURUSD: Sellers at the highs?

This could be a volatile week for the USD pairs in FX. EURUSD has been range bound for the last week; a stop run at the highs on any volatile moves and we could see some supply come into this market.

Supply at the highs?

Supply at the highs?

No Risk With SparkProfit

Whichever way you think these markets may go you can play them risk free with SparkProfit.

Please note our disclaimer on all of this.

Oil – Some Levels To Trade

Depending on what you read, the fundamentals seem to be bulish and bearish on Oil in equal quantities lately.

Oil prices have dropped over 50% in the last year with retail investors and informed money alike shorting Brent and Crude futures markets this year. Goldman Sachs have gone as far as to predict that Oil prices could remain depressed for the next 15 years due to a global over supply.

However, in early trading this week, Oil prices have risen against a fundamental backdrop of talk about declining stockpiles, the futures contract rollover on September 16th and a large net reduction in long positions by Hedge Funds according to the Commodity Futures Trading Commission.

Its hard to know which way to trade…

What are the charts saying?

Oil trend is down but buyers have come in

The trend is down, but thats not the whole story.

This is a very bearish chart, Brent oil has been dropping over the last year and price has been capped by the trend line in play. What is interesting about this chart is that price broke the yearly lows and plunged to the early $42 before it picked up some buyers and we got some impulsive looking candles bringing price rapidly to $52.

We are now seeing some back and forth corrective price action with price basing off of the $47 level. If we drill down to the 4 hour chart, we can see the corrective price action we have had recently with price firmly capped for now.

Price action is just going sideways

A slow sideways grind

If the $47 level can hold, we may get a slow corrective grind to the $58.50 – $59.50 level before suppply really kicks in again. But before Brent can get to this level, there are a couple of potential sticky supply levels to be aware of.

Some levels to watch on Oil

Some levels to watch on Oil

No Risk With SparkProfit

Which ever way you think Oil is going to go, you can play it risk free with SparkProfit.

Please note our disclaimer on all of this.

In The News: Isle Of Man Entrepreneur Event

By LC | 16 September 2015

Founders Justin and Mick were interviewed at an Entrepreneur event held in the Isle of Man. They were on the Island putting the finishing touches on our Gaming Services Commission licence application.

http://www.isleofman.com/News/details/74009/entrepreneur-event-creates-investment-opportunities-for-new-businesses-and-the-island