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Trading Analysis 16th July 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1612.0 - $ 1618.8 - $ 1628.7

Support Levels:
$ 1595.4-  $ 1585.4 - $ 1578.6

Strategy:
Sell on Strength

Short below $1609, put stop loss above $1618,  target $1591-$1589 & $1585-$1583. 

 

U.S. Unemployment claims, Building Permit &s Housing Starts @ 1730 and Philly Fed Manufacturing Index @ 1900(GMT+5) hours.

Silver:
Resistance Levels:
$ 27.2 - $ 28.2 - $ 28.5


Support Levels:
$ 27.4 - $ 27.1 - $ 26.9

Strategy:
Sell on Strength

 

Short below $28.00, put stop loss above $28.00, target $27.60 - $27.50 & $27.30 - $27.10. A break above $28.00 may show $28.20 - $28.40.

Crude Oil:
Resistance Levels:
$ 95.2 - $ 96.1 - $ 97.4

Support Levels:
$ 93.0 - $ 91.7 - $ 90.7

Strategy:

Neutral

 

Oil is likely to trade in the range of $92.50 and $ 95.05.A break below $92.20 may show $91.80 & $91.20. A break above $95.05 may show $95.50 & $96.50.

 

CURRENCIES:

AUDUSD :
Resistance Levels:
$ 1.0501 - $ 1.0526 - $ 1.0540

 

Support Levels:
$ 1.0462 - $ 1.0448 - $ 1.0423

 

Strategy:
Buy on Dips

 

Buy above $1.0450

 

GBPUSD :
Resistance Levels:

$ 1.5703 - $ 1.5723 - $ 1.5745

Support Levels:

$ 1.5661 - $ 1.5639 - $ 1.5619

Strategy:
Neutral

 

Retail Sales @ 1330(GMT+5) hours.

 

EURUSD :
Resistance Levels:

$ 1.2334 - $ 1.2379 - $ 1.2414

Support Levels:
$ 1.2254 - $ 1.2219 - $ 1.2174

Strategy:
Neutral

 

Core CPI @ 1400 (GMT+5) hours.

Thursday, 16 Aug, 2012 / 4:40

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

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