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Merrillville, IN 46410

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Canadian dollar continues to trade aggressively lower

1.21.2013

Top Day Market News

US calendar continues to be light on the other side of the market holiday Monday. The market did receive some news about German consumer confidence which came in less than expected at 61.7 versus an expected 64.00 while the ZEW (The Eurozone consumer confidence) came in at 73.3 versus an expected 68.3.

As mentioned previously, the Canadian dollar continues to trade aggressively lower and hit today’s outside support (see chart below) and Crude oil may reverse intermediate trend with a higher close today. Eurozone confidence numbers may help support this reversal along with the psycho boost from the expected snow storm and falling temps today in New York City.

First the Canadian dollar on a 15 minute chart.

Now the crude oil on a 15 minute chart.

Week of January 20 - January 24

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

Jan 22

07:00

MBA Mortgage Index

01/18

 

NA

NA

11.9%

 

Jan 23

08:30

Initial Claims

01/18

 

330K

327K

326K

 

Jan 23

08:30

Continuing Claims

01/11

 

2900K

2900K

3030K

 

Jan 23

09:00

FHFA Housing Price Index

Nov

 

NA

NA

0.5%

 

Jan 23

10:00

Existing Home Sales

Dec

 

4.87M

4.90M

4.90M

 

Jan 23

10:00

Leading Indicators

Dec

 

0.1%

0.2%

0.8%

 

Jan 23

10:30

Natural Gas Inventories

01/18

 

NA

NA

-287bcf

 

Jan 23

11:00

Crude Inventories

01/18

 

NA

NA

- 7.658M

 

 

MARKET PLACE

Numbers are good up until the close of business today. These are strictly technical in nature, not fundamentally based or biased.

Legend U is Up

D is Down

PRD is Potential Reversal Day S2 is Weekly strong support

S1 is Weekly good support DS is Daily Support

DR is Daily Resistance

R1 is Weekly Good Resistance and is calculated once a week on Sunday night

R2 is Weekly Strong Resistance and is calculated once a week on Sunday night

Levels are for the most active futures contract

Daily Support and Resistance

 

Trend

WS2

WS1

DS

DR

WR1

WR2

Mar ES

PRD(D)

1793

1813

1828

1848

1849

1865

Mar Nasdaq

D

3445

3514

3569.50

3604

3652

3680

Mar Yen

U

94.23

95.06

95.60

96.01

96.99

98.08

Mar EC

U

133.95

134.62

134.89

135.94

136.47

137.66

Mar 10 Year Note

U

12.12

123.28

124.05

124.18

124.25

125.13

Mar 30 Year Bond

U

129.18

130.14

130.17

131.19

131.27

132.12

Mar Soybean

U

124.49

12.64

13.00

13.21

12.95

13.11

Mar Corn

D

3.97

4.15

4.19

4.27

4.41

4.50

Feb Gold

D

1225

1239.5

1241

1258

1261

1269

March Silver

D

18.53

19.92

19.76

20.49

20.68

21.65

March Copper

U

327

330

330.75

336

337

340

Feb Crude

PRD(U)

90.25

92.20

94.07

95.08

95.69

97.09