{"id":217918,"date":"2022-03-07T18:30:21","date_gmt":"2022-03-07T18:30:21","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=217918"},"modified":"2024-05-24T15:22:20","modified_gmt":"2024-05-24T14:22:20","slug":"opportunities-with-commodities","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/opportunities-with-commodities\/","title":{"rendered":"Opportunities with commodities"},"content":{"rendered":"\r\n

HI Everyone,<\/p>\r\n\r\n\r\n\r\n

With the tragic events surrounding the war going on now, I wanted to use this week to try and give you a better explanation of what’s happening to the commodity based economies. We have seen increased prices in for example Gold, Oil & Iron Ore in recent weeks.<\/p>\r\n\r\n\r\n\r\n

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Let’s break this down a little bit\u2026<\/p>\r\n\r\n\r\n\r\n

Commodities<\/p>\r\n\r\n\r\n\r\n

-When we speak about the commodity economies we are typically referring to the AUD and CAD. Two countries, who’s currencies we trade and that also produce a lot of certain commodities. The health of their economies are dependent on these prices and higher prices on these commodities generally means a stronger currency.<\/p>\r\n\r\n\r\n\r\n

-Examples of commodities are; Crude oil, Coffee, Natural gas, Gold, Wheat, Cotton, Corn & Sugar<\/p>\r\n\r\n\r\n\r\n

The uncertainty the war creates and in certain instances the increased demand has resulted in much higher commodity prices across the board which in turn has resulted in a much stronger AUD and a generally stronger CAD.\u00a0 To get a better understanding of exactly what commodities each of these countries produce, use this great site –https:\/\/oec.world\/en\/profile\/country\/aus\/#trade-products\u00a0<\/a><\/p>\r\n\r\n\r\n\r\n

I’ll go over this in more detail in Tuesdays live session, but until then, make a note of this weeks red flag news- https:\/\/www.forexfactory.com\/calendar<\/a>
The big event of the week being inflation news from the USA on Thursday.<\/p>\r\n\r\n\r\n\r\n

Good luck for the trading week and see you on Tuesday!<\/p>\r\n\r\n\r\n\r\n

++++++++<\/p>\r\n\r\n\r\n\r\n

Trade for clients & receive a substantial profit share<\/p>\r\n\r\n\r\n\r\n

If you want to receive a substantial profit share you only need to make 3 to 5% per month. You can find a copy of the brochure here: Trade for Clients<\/a><\/p>\r\n\r\n\r\n\r\n

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MAJORS<\/p>\r\n\r\n\r\n\r\n

EUR\/USD:\u00a0 Area I’d consider a short 1.3120<\/p>\r\n\r\n\r\n\r\n

USD\/CHF: Too messy for me. You have two safe havens counterbalancing each other.<\/p>\r\n\r\n\r\n\r\n

GBP\/USD: Area to consider a short from is 1.3380<\/p>\r\n\r\n\r\n\r\n

AUD\/USD: I’m considering a long from 0.7350 and if it breaks lower 0.7320. Also a possibility to split your entry (see video)<\/p>\r\n\r\n\r\n\r\n

NZD\/USD: Area to consider a short is 0.6860<\/p>\r\n\r\n\r\n\r\n

USD\/JPY: Same scenario as USD\/CHF, too messy for me.<\/p>\r\n\r\n\r\n\r\n

USD\/CAD:\u00a0 Looking to long from 1.2420 and to short from 1.2890<\/p>\r\n\r\n\r\n\r\n

CROSSES<\/p>\r\n\r\n\r\n\r\n

EUR\/GBP:\u00a0 \u00a0Swing traders could consider 0.8210. I’d like to short form 0.8590<\/p>\r\n\r\n\r\n\r\n

AUD\/JPY: Long from 83.50<\/p>\r\n\r\n\r\n\r\n

EUR\/JPY: Short from 126.60. On the 4H chart, 128.00 looks interesting.<\/p>\r\n\r\n\r\n\r\n

EUR\/NZD: Short from 1.6700<\/p>\r\n\r\n\r\n\r\n

AUD\/NZD: Area that looks good for a long is 1.0700<\/p>\r\n\r\n\r\n\r\n

GBP\/CAD: If it gets to 1.7100 I’d look to short.<\/p>\r\n\r\n\r\n\r\n

AUD\/CHF: New member Chris’ idea , but it’s a very well thought out idea, is a long from\u00a0 0.6720<\/p>\r\n\r\n\r\n\r\n

As always, remember correlation!\u00a0<\/strong><\/p>\r\n\r\n\r\n\r\n

We are NOT a \u201ctipping service\u201d our aim is to teach you how to trade for yourself.<\/p>\r\n\r\n\r\n\r\n

Watch the video below for more detailed explanations of this week\u2019s analysis and trade plan:<\/p>\r\n\r\n\r\n\r\n