Daily Archives: June 24, 2016


Comex Trading Signals and Market News – 24 June 2016


  • Oil prices inched higher in cautious European trade on Thursday, as investors remained on edge ahead of the U.K. vote on whether to leave the European Union.The vote on a potential Brexit was set to take place between 6:00GMT, or 7:00AM London time, and 21:00GMT, or 10:00PM in London, with results expected early Friday morning.
  • Gold futures struggled for direction near two-week lows in European trade on Thursday, as U.K. voters go to the polls for a referendum on European Union membership.The vote on a potential Brexit was set to take place between 6:00GMT, or 7:00AM London time, and 21:00GMT, or 10:00PM in London, with results expected early Friday morning.
  • Zinc futures were trading lower during noon trade in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Further traders are nervously eying the outcome of the EU referendum today with British voters deciding whether to keep their country in the trade block or exit the European Union.


  • A top Federal Reserve policymaker said on Thursday he is not advocating for interest rate hikes at this point and instead wants to “show more patience” waiting for the U.S. economy to show clearer signs of improvement. Dallas Fed President Robert Kaplan, speaking as results trickled in from Britain’s referendum on membership in the European Union, said he was concerned about the vote because the result could stress international trade, which could hurt global economic growth.
  • Bank of Japan policymakers remained deeply divided on whether to expand or scale back its massive stimulus program as they struggled to address weak inflation with a dwindling range options, a summary of opinions from a June rate review showed on Friday.While the rift has existed ever since BOJ Governor Haruhiko Kuroda deployed his huge asset-buying program in 2013, it is becoming more evident as dissenters to negative interest rates openly criticize the governor’s radical policies.
  • U.S. fund investors pulled out of riskier markets over the last week, data from Lipper showed on Thursday, as they braced for a British vote on its European Union membership even as stocks rallied.Investors pulled $6.1 billion from U.S.-based stock funds during the weekly period ended June 22, the data showed. That was the most pulled from the funds since the week ended May 4.


  • BUY GOLD ABOVE 1270 TARGET 1275 1281 SL 1265
  • SELL GOLD BELOW 1256 TARGET 1251 1245 SL 1261

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IForex Market Trading Signals and News – 24 June 2016


  • Forex – Pound eases from 6-month highs as Brexit vote gets underway
  • Forex – Aussie, kiwi hit multi-month highs ahead of Brexit vote
  • Forex – Yen holds weaker in Asia ahead of Brexit vote

EUR/USD is currently trading with a bullish bias. Yesterday, instead of going short as previously forecasted, the pair traded traded long and even broke above the resistance level 1.1291. Following this breakout, we still expect further movements to the upper side but should not go above 1.1411. A clear breakout above this target will push the price to the upper side. This pair should be traded alongside GBP/USD, AUD/USD and NZD/USD. These pairs have a strong positive correlation of up to +0.89 and will have a similar price action during this intraday.

The pound eased after touching six month highs overnight as voting in a landmark referendum on whether the U.K. should remain in the European Union got underway. GBP/USD was last at 1.4760, up 0.36% for the day after touching highs of 1.4845 overnight, the strongest level since December 31.Sterling reviewed a boost late Wednesday after an opinion poll indicated that support for the Remain campaign edged into the lead.The YouGov poll for The Times newspaper showed that 51% of voters supported the campaign to remain in the EU, with 49% supporting Brexit, after a previous YouGov poll showing a lead for the campaign to leave.


  • BUY GBP/USD AROUND 1.4950 TGT 1.4970 1.5000 SL 1.4920
  • SELL GBP/USD BELOW1.4800 TGT 1.4780 1.4750 SL 1.4830

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