SGX Comex Recommendations

INTERNATIONAL COMMODITY NEWS :
Gold prices pulled away from a three-week low on Tuesday, but still remained below the $1,200 threshold as the strong U.S. dollar continued to weigh on the precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were up 0.23% to $1,182.50.The February contract ended Monday’s session 1.35% lower at $1,179.80 an ounce.The dollar remained supported after the Federal Reserve signaled last week that it was on track to raise interest rates next year but said it was taking a patient stance.Higher U.S. interest rates would boost the greenback and weigh on gold, which has benefited from central bank liquidity and a low interest rate environment since the 2008 financial crisis.

TRADING STRATEGY :
BUY GOLD ABOVE 1180 TARGET 1185 1191 SL 1174
SELL GOLD BELOW 1172 TARGET 1167 1161 SL 1178

IForex Signal Update

Forex Recommendation of 24 DEC. 2014

✔ We Hit The First Target

■■ Sell GBP/USD Below 1.5528-TG:1.5508/1.5478 SL 1.5558

SGX IForex Recommendations

TRADING TIPS :

EUR/USD held steady, near two-year lows at 1.2236.Earlier Tuesday, official data showed that French consumer spending rose 0.4% in November, beating expectations for a 0.3% gain. French consumer spending fell 0.8% in October, whose figure was revised from a previously estimated 0.9% decline.Another report showed that France’s economy grew by 0.3% in the third quarter, in line with expectations and unchanged from the previous quarter’s growth rate.The dollar remained broadly supported after the Federal Reserve signaled last week that it was on track to raise interest rates next year but said it was taking a patient stance. The central bank also acknowledged the improvement in the U.S. labor market and noted that the economy is making progress toward its goals in inflation and employment.

INTRADAY OUTLOOK

Support: 1.2208

Resistance: 1.2263

RECOMMENDATION:

1. Buy EUR/USD Above 1.2265-TG:1.2285/1.2315 SL 1.2235

2. Sell EUR/USD Below 1.2205-TG:1.2185/1.2155 SL 1.2235

INTRADAY OUTLOOK

Immediate Support: 1.5531

Immediate Resistance: 1.5592

RECOMMENDATION:

1. Buy GBP/USD Above 1.5595-TG:1.5615/1.5645 SL 1.5565

2. Sell GBP/USD Below 1.5528-TG:1.5508/1.5478 SL 1.5558