Live Platinum Trading Floor update

trading floor


Good Morning my fellow traders,

This year so far has been a very volatile year with moves in the market that would have seemed almost unrealistic last year. We had Janet Yellen dithering almost all of 2015 with regards to increasing rates and at the end in December, one increase in interest rate which would not even make a dent to this 8-year reign of ZIRP which means zero Interest Rate Policy. We have Kuroda who just does not know how to get out of this situation of negative interest rates as for him Negative Interest rates will boost Japan’s Economy. BOJ will now continue Easing until it reaches 2% Inflation. I don’t want to bore you with a fundamental lecture but believe me, I could go on and on about the socio-economic state of the world and other trading floor updates.

Let’s talk about the day ahead:

  • Oil and it tantrums:

Oil slides back below the $31 mark just like I was saying in one of my articles in the money article I wrote recently. Oil is dropping on heightened excess supply concerns after the US oil inventories hit a record high. So for novice Platinum traders or Individuals that would like to learn to trade it the theory of supply and demand right. If you have an excess of demand, the price increases and excess of supply, the prices decrease, in the case of oil the inventories rose by 2.1 million barrels last week to a peak of 504.1 million barrels the third week of highs.

From a Platinum Trading Perspective, if you are holding oil positions long beware because, in my opinion, we should be hitting $20 on a stop hunt prior to moving anywhere. Also, I doubt we shall be seeing anywhere about $45 for the rest of 2016 even with Russia and Saudi Capping the output.

  • Quick Overview of the Markets:

Asian stocks drop even after having one of the best weeks in 2016, drag on the markets have been the energy producers as oil slides below $31. Today is Friday which for me is profit taking day. So what! Let’s see where the market closes today as in my opinion, this will set the tone for the coming weeks. Yen seems like it is on its way to the 106. Cable is trying to make a recovery but doesn’t think this will be for long due to the poor decision-making capabilities of Carney. Euro is awaiting a big move in my opinion stuck in a range between 1.1050 and 1.1250 until we close above or below for me its just trading this range. Aussie technically seems like we are now accumulating for a Platinum Seasonal Trade coming up shortly, we could see around 7400 if this plays out right. Kiwi is a replica for the Aussie and looks like 6750 could be on the cards sooner rather than later.

Tip of the week: Do not trade the markets after 15:00 due to lackluster of liquidity.

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Have a beautiful day and shall see you on Sunday prior to market open. Don’t forget no one was born a trader but at Platinum Trading Academy we make traders every day ?? if you have any questions please let me know. Keep reading our blog for more forex trading floor updates

All the best!

Nisha Patel

Platinum Trading Academy