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Trading Analysis 6th June 2012

ACM Gold and Forex Trading (PTY) Ltd

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1623.6 - $ 1630.4 - $ 1635.9

Support Levels:
$ 1611.3 - $ 1605.8 - $ 1599.0

Strategy:
Neutral

Long above 1631, target 1648. If market breaks 1631 on the downside, you may short and target 1614 and 1605.

Revised Nonfarm Productivity @1730(GMT+5)hours.

Beige Book @2300(GMT+5)hours.

Silver:
Resistance Levels:
$ 28.60 - $ 28.80 - $ 29.07

Support Levels:
$ 28.14 - $ 27.87 - $ 27.67

Strategy:
Neutral

It is expected to trade in the range of 28.10 and 28.90. Upside penetration may call for 29.20 and 29.60. A fall below 28.10 may call for 27.90 and 27.40.

Crude Oil:
Resistance Levels:
$ 85.04 - $ 85.78 - $ 86.65

Support Levels:
$ 83.43 - $ 82.56 - $ 81.82

Strategy:
Buy on Dips

Long above 83.30, target 85.40 (a very good resistance level).

A fall below 83.30 may call for 82.90 and 82.25.

Crude Oil Inventories @1930(GMT+5)hours.

CURRENCIES:

EURUSD :
Resistance Levels:
$ 1.2526 - $ 1.2601 - $ 1.2659

Support Levels:
$ 1.2393 - $ 1.2335 - $ 1.2260

Strategy:
Buy on Dips

CAUTION: ECB Press Conference @1730(GMT+5)hours.

German Industrial Production @1500(GMT+5)hours.

Minimum Bid Rate @1645(GMT+5)hours.

GBPUSD :
Resistance Levels:

$ 1.5419 - $ 1.5458 - $ 1.5507

Support Levels:

$ 1.5331 - $ 1.5282 - $ 1.5243

Strategy:
Neutral

Construction PMI @1330(GMT+5)hours.

AUDUSD :
Resistance Levels:
$ 0.9793 - $ 0.9844 - $ 0.9886

Support Levels:
$ 0.9700 - $ 0.9658 - $ 0.9607

Strategy:
Buy on Dips

Source: https://www.acmgold.com/news-analysis
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