BoC Abandons Hike Bias, Riksbank’s Turn to Decide on Policy
The Canadian dollar slid yesterday, after the BoC fully abandoned its hiking [...]
Trading news
Trading Analysis 10th August 2012
TECHNICAL's IN FOCUS
Gold:
Resistance Levels:
$ 1623.2 - $ 1626.5 - $ 1632.0
Support Levels:
$ 1614.4- $ 1608.9 - $ 1605.6
Strategy:
Buy on Dips
Long above $1600, target $1624. A fall below $1600 may call for $1582.
U.S. Import Price @ 1800 & Federal Budget @2330 (GMT+5) hours.
Silver:
Resistance Levels:
$ 28.22 - $ 28.38 - $ 28.57
Support Levels:
$ 27.87 - $ 27.68 - $ 27.52
Strategy:
Sell on Strength
Short below $28.25, target $27.50. A break above $28.25 may call for $28.70.
Crude Oil:
Resistance Levels:
$ 94.14 - $ 94.75 - $ 95.28
Support Levels:
$ 93.00 - $ 92.47 - $ 91.86
Strategy:
Sell on Strength
Short below $94.23, target $90.56. A break above $94.23 may call for $96.23.
CURRENCIES:
AUDUSD :
Resistance Levels:
$ 1.0610 - $ 1.0641 - $ 1.0670
Support Levels:
$ 1.0550 - $ 1.0521 - $ 1.0490
Strategy:
Sell on Strength
GBPUSD :
Resistance Levels:
$ 1.5678 - $ 1.5721 - $ 1.5758
Support Levels:
$ 1.5598 - $ 1.5561 - $ 1.5518
Strategy:
Buy on Dips
PPI Input @ 1400 (GMT+5) hours.
EURUSD :
Resistance Levels:
$ 1.2371 - $ 1.2439 - $ 1.2491
Support Levels:
$ 1.2251 - $ 1.2199 - $ 1.2131
Strategy:
Buy on Dips
French Industrial Production @ 1215( GMT+5) hours.
Friday, 10 Aug, 2012 / 2:41
Source : http://www.acmgold.com/news-analysis
Trading news
Bank of Canada doubles down on dovishness
Summary: USDCAD soared to 1.3519 from 1.3440, despite a surge in WTI oil [...]
Gold is falling on positive economic news
Gold continues to lose ground. Its spot price has already dropped below $1270 [...]
