Euro Rally Gives Commodity Bulls A Glimmer Of Hope…

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Commodity Trading Research
Euro Rally Gives Commodity Bulls A Glimmer Of
Hope
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• Hi, My name is Justin and Im with Commodity
  Trading Research, today were reviewing our
  recently published article

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• Euro Rally Gives Commodity Bulls A Glimmer Of
  Hope

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• Without question, last week held someimportant
  market moving news
• Heres a quick recap

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• Fridays US job report revealed another month
  of strong gains. Employers added 211,000 new
  jobs in November, which kept the unemployment
  rate steady at 5.

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• With this report in mind, its a near certainty
  the Fed will raise rates in their December 16th
  FOMC meeting.

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• OPEC sent the WTI oil price spiraling below 40
  a barrel when they announced theyd raise their
  output ceiling to 31.5 million barrels a day in
  2016. Not the news crude bulls were hoping for.

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• European Central Bank (ECB) President Mario
  Draghishocked the currency markets last Thursday
  when he announced a much smaller than expected
  stimulus package for the Eurozone economy.

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• Traders heavily short the Euro were forced to
  cover quickly, sending the Euro surging 3
  against the US Dollar.

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• Traders heavily short the Euro were forced to
  cover quickly, sending the Euro surging 3
  against the US Dollar.

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• The sudden currency market adjustment sent the US
  Dollar steeply lower late last week.
• Take a look

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• As you can see, the US Dollar index gave up an
  entire month of gains in Thursdays wild trading
  session (green circle).

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• Thanks to the strong dollar downturn, precious
  metals markets ended last week on a high note.
  Gold rallied 2.2 Friday, while silver, platinum,
  and palladium tacked on gains of 3.4, 4.2, and
  6.2 respectively.

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• Clearly, a weakening US Dollar has precious
  metals bulls jumping into action.

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• Will this dramatic Dollar downturn continue?

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• Its essential to remember this months FOMC
  meeting (on December 16th) will very likely
  result in higher interest rates. Of course, a
  Fed rate raise in typically viewed as a bullish
  situation for the US Dollar.

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• However, given the severity of last Thursdays
  downturn and the fact it happened at important
  long-term technical resistance (horizontal red
  line in chart above),

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• theres a distinct possibility the Feds rate
  hike is already priced into the market. As a
  result, we could see an additional Dollar decline
  in coming months

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• Whats more, we may see continued bullishness in
  precious metals and other select commodities in
  coming weeks.

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• Here are a few ideas for capitalizing on this
  development

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• The Powershares DB US Dollar Bearish ETF UDNis
  an inverse dollar tracking ETF. In other words,
  when the US Dollar falls, UDN gains value.
  However, since UDN is thinly traded it requires
  a careful entry and exit technique.

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• You could also make a simple bet on higher gold
  and silver prices through precious metals focused
  commodity ETFs.

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• No matter which ETF you choose, youll need stop
  loss orders below the recent swing low to control
  your trading risk.

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