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All markets seem to be dominated by the action in the U.S. Dollar and the other major currencies around the globe. The foreign exchange markets (FOREX) are now the most heavily traded markets in the world and they continue to grow in popularity everyday. In this week's report we will examine three different currencies besides the U.S. Dollar that can move markets at any given time.
The CurrencyShares Swedish Krona Trust (NYSEARCA:FXS) seeks to reflect the price in U.S. Dollars of the Swedish Krona. The FXS has been soaring higher since January 13, 2012 when it traded as low as $141.44 a share. Last week, the FXS traded as high as $150.07 a share which is near term resistance. Should the FXS trade above the recent high the next resistance level will be at the $153.75 area. Last Friday, the FXS pulled back closing at $148.98 a share. Should the FXS pullback further from current levels traders can find short term support around the $146.75, $144.75, and $143.50. Place these levels on your charts, trade them accordingly.
The CurrencyShares Canadian Dollar Trust (NYSEARCA:FXC) seeks to reflect the price of the Canadian Dollar. The FXC has struggled to climb above the $100.00 level. It is important to note that the FXC is still trading below its October 27, 2011 pivot high of $100.52 a share. This ETF will often reflect the action in many of the base metals as Canada is a commodity rich nation. Should the FXC trade higher there will be near term resistance around the $101.00, and $103.50 levels. If the FXC pulls back from its current level traders should watch for near term support around the $98.00, and $97.00 levels.
The CurrencyShares Australian Dollar Trust (NYSEARCA:FXA) is another ETF that will often follow the trend of the base metals. The Australian economy is very much like the Canadian economy in that respect. Last week, this important ETF closed at $106.71 a share. Traders can watch for near term support around the $105.50, $104.00, and $102.50 levels. Should the FXA rally from current levels trader must watch for resistance around the $110.00 and $114.00 levels. Take careful note of these levels, understand what moves the currencies and profit from the relationship. Join the Pros live as they trade the markets in our Intra Day Stock Chat. View their charts, hear them trade, ask questions, live. If you are not day trading yet would still like to profit from the multi day market moves, then our Research Center is the place for you. Join the best and become the best.
The CurrencyShares Swedish Krona Trust (NYSEARCA:FXS) seeks to reflect the price in U.S. Dollars of the Swedish Krona. The FXS has been soaring higher since January 13, 2012 when it traded as low as $141.44 a share. Last week, the FXS traded as high as $150.07 a share which is near term resistance. Should the FXS trade above the recent high the next resistance level will be at the $153.75 area. Last Friday, the FXS pulled back closing at $148.98 a share. Should the FXS pullback further from current levels traders can find short term support around the $146.75, $144.75, and $143.50. Place these levels on your charts, trade them accordingly.
The CurrencyShares Canadian Dollar Trust (NYSEARCA:FXC) seeks to reflect the price of the Canadian Dollar. The FXC has struggled to climb above the $100.00 level. It is important to note that the FXC is still trading below its October 27, 2011 pivot high of $100.52 a share. This ETF will often reflect the action in many of the base metals as Canada is a commodity rich nation. Should the FXC trade higher there will be near term resistance around the $101.00, and $103.50 levels. If the FXC pulls back from its current level traders should watch for near term support around the $98.00, and $97.00 levels.
The CurrencyShares Australian Dollar Trust (NYSEARCA:FXA) is another ETF that will often follow the trend of the base metals. The Australian economy is very much like the Canadian economy in that respect. Last week, this important ETF closed at $106.71 a share. Traders can watch for near term support around the $105.50, $104.00, and $102.50 levels. Should the FXA rally from current levels trader must watch for resistance around the $110.00 and $114.00 levels. Take careful note of these levels, understand what moves the currencies and profit from the relationship. Join the Pros live as they trade the markets in our Intra Day Stock Chat. View their charts, hear them trade, ask questions, live. If you are not day trading yet would still like to profit from the multi day market moves, then our Research Center is the place for you. Join the best and become the best.
Commercial Real Estate Levels You Should Know
The commercial real estate sector has been on fire since October 4, 2011. At that time, the iShares Dow Jones Real Estate ETF (NYSE:IYT) traded as low as $46.70 a share. Last week, the important IYR closed at $60.78 which is a new six month high. This rally has been nothing short of sensational for the entire sector. The IYR is now overbought and extended in the short term on the daily chart. Traders must begin to look for a pullback or at least some consolidation in the near term. The near term resistance levels for the IYR are around the $62.00, $70.00, and $74.50 areas. Should the IYR decline from its current price traders should watch for near term support around the $57.30, $56.10, and $55.00 levels.
Simon Property Group Inc (NYSE:SPG) is considered the best of the best when it comes to the commercial real estate stocks. This stocks has surged higher by more than $30.00 since October 4, 2011 when SPG was trading around the $103.50 area. Last week, SPG closed at a new all time high at $136.69 a share. The stock remains in a very strong uptrend by trading above all of the major moving averages. The only problem with SPG stock at this time is that it is a bit overbought. Traders should watch for near term daily chart resistance around the $138.00, and $143.00 levels. Should this market leading stock pullback or decline from its current price traders should watch for support around the $129.00, and $123.00 levels. SPG will report earnings on February 3, 2012.
Vornado Realty Trust (NYSE:VNO) is another leading commercial real estate company based out on New York City. Traders must understand that while this stock has been rallying higher over the past month it is still trading below its November 2011 high. This tells us that the stock is weak relative to the rest of the commercial real estate sector. Traders should watch for near term resistance around the $83.00, $85.00, and $89.50 levels. Should VNO pullback from its current price there should be short term daily chart support around the $77.60, 76.20, 74.70, and $73.00 levels.
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The commercial real estate sector has been on fire since October 4, 2011. At that time, the iShares Dow Jones Real Estate ETF (NYSE:IYT) traded as low as $46.70 a share. Last week, the important IYR closed at $60.78 which is a new six month high. This rally has been nothing short of sensational for the entire sector. The IYR is now overbought and extended in the short term on the daily chart. Traders must begin to look for a pullback or at least some consolidation in the near term. The near term resistance levels for the IYR are around the $62.00, $70.00, and $74.50 areas. Should the IYR decline from its current price traders should watch for near term support around the $57.30, $56.10, and $55.00 levels.
Simon Property Group Inc (NYSE:SPG) is considered the best of the best when it comes to the commercial real estate stocks. This stocks has surged higher by more than $30.00 since October 4, 2011 when SPG was trading around the $103.50 area. Last week, SPG closed at a new all time high at $136.69 a share. The stock remains in a very strong uptrend by trading above all of the major moving averages. The only problem with SPG stock at this time is that it is a bit overbought. Traders should watch for near term daily chart resistance around the $138.00, and $143.00 levels. Should this market leading stock pullback or decline from its current price traders should watch for support around the $129.00, and $123.00 levels. SPG will report earnings on February 3, 2012.
Vornado Realty Trust (NYSE:VNO) is another leading commercial real estate company based out on New York City. Traders must understand that while this stock has been rallying higher over the past month it is still trading below its November 2011 high. This tells us that the stock is weak relative to the rest of the commercial real estate sector. Traders should watch for near term resistance around the $83.00, $85.00, and $89.50 levels. Should VNO pullback from its current price there should be short term daily chart support around the $77.60, 76.20, 74.70, and $73.00 levels.
Join the Pros as they trade/swing the stocks mentioned above and more. For swing trading and investing expert guidance, you need our Research Center. For day trading, your only place is trading live with the Pros in our Intra Day Stock Chat. Get started with both for FREE with our 7 day Free Trial, cancel anytime and never be charged. Click here now.
Believe it or not, the home building stocks have been surging higher since October 4, 2011. Since that time, this sector has climbed higher by 50 percent. Many leading home-builder stocks have rallied even higher. On October 4, 2011 the SPDR S&P Home-builders ETF (NYSE:XHB) was trading as low as $12.21 a share. Last week, the XHB closed at $18.43 a share. This is a terrific rally for a sector that is supposed to be depressed. This week we shall examine three leading home-builder stocks and find the near term resistance levels.
D.R. Horton Inc (NYSE:DHI) is one of the leading U.S. home-builders based out of Fort Worth, Texas. This stock was trading as low as $8.03 a share in early October. Last week, the stock closed at $13.91 a share. Traders must watch for very important chart resistance around the $15.00 area. The stock is now reaching short term overbought and extended levels. Traders that are looking to own DHI stock should now wait for a pullback, or a consolidation pattern to form on the charts. Should the stock pullback from the current levels traders can look for daily chart support around the $12.00 area.
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Pulte Group Inc (NYSE:PHM) is a leading U.S. home-builder that is based out of Bloomfield Hills, Michigan. This stocks was trading as low as $3.29 a share on October 4, 2011. Last week, the stock closed at $7.62 a share, this is a gain of more than 100 percent in just three months. Traders must watch for important near term daily chart resistance around the $8.00 level. Should the stock trade above and through that area the next important resistance point will be around the $8.50, and $9.10 levels. Should PHM decline from current levels the stock will have very strong daily chart support around the $6.00 area.
KB Home (NYSE:KBH) is another leading U.S home-builder stock that has soared over the past three months. KBH stock has surged higher by nearly $4.00 since early October 2011. At that time, the stock was trading as low as $5.02 a share, last week the stock closed at $8.83 a share. The stock is approaching the weekly chart 50 moving average at $9.42 which is going to be near term resistance. Should the stock continue to climb above that important resistance level the next resistance area will be around the $11.00 level. It is important to remember that the stock is already trading into important resistance and may need to pullback first before climbing higher. Should the stock decline from current levels there will be good near term support around the $6.75 level.
All traders should remember that the corporate earnings season is upon us. Therefore, traders should always check for earnings when looking to trade a stock during this time. It is always very risky trading ahead of earnings.
Join the Pros as they trade/swing the stocks mentioned above and more. For swing trading and investing expert guidance, you need our Research Center. For day trading, your only place is trading live with the Pros in our Intra Day Stock Chat. Get started with both for FREE with our 7 day Free Trial, cancel anytime and never be charged. Click here now.
D.R. Horton Inc (NYSE:DHI) is one of the leading U.S. home-builders based out of Fort Worth, Texas. This stock was trading as low as $8.03 a share in early October. Last week, the stock closed at $13.91 a share. Traders must watch for very important chart resistance around the $15.00 area. The stock is now reaching short term overbought and extended levels. Traders that are looking to own DHI stock should now wait for a pullback, or a consolidation pattern to form on the charts. Should the stock pullback from the current levels traders can look for daily chart support around the $12.00 area.
Trade with the Pros live, view their charts, hear them over your speakers in our Intra Day Stock Chat. Start for free here.
Pulte Group Inc (NYSE:PHM) is a leading U.S. home-builder that is based out of Bloomfield Hills, Michigan. This stocks was trading as low as $3.29 a share on October 4, 2011. Last week, the stock closed at $7.62 a share, this is a gain of more than 100 percent in just three months. Traders must watch for important near term daily chart resistance around the $8.00 level. Should the stock trade above and through that area the next important resistance point will be around the $8.50, and $9.10 levels. Should PHM decline from current levels the stock will have very strong daily chart support around the $6.00 area.
KB Home (NYSE:KBH) is another leading U.S home-builder stock that has soared over the past three months. KBH stock has surged higher by nearly $4.00 since early October 2011. At that time, the stock was trading as low as $5.02 a share, last week the stock closed at $8.83 a share. The stock is approaching the weekly chart 50 moving average at $9.42 which is going to be near term resistance. Should the stock continue to climb above that important resistance level the next resistance area will be around the $11.00 level. It is important to remember that the stock is already trading into important resistance and may need to pullback first before climbing higher. Should the stock decline from current levels there will be good near term support around the $6.75 level.
All traders should remember that the corporate earnings season is upon us. Therefore, traders should always check for earnings when looking to trade a stock during this time. It is always very risky trading ahead of earnings.
Join the Pros as they trade/swing the stocks mentioned above and more. For swing trading and investing expert guidance, you need our Research Center. For day trading, your only place is trading live with the Pros in our Intra Day Stock Chat. Get started with both for FREE with our 7 day Free Trial, cancel anytime and never be charged. Click here now.
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