Trading news

Trading Analysis 1st August 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1628.1 - $ 1638.6 - $ 1645.5

Support Levels:
$ 1610.7-  $ 1603.8 - $ 1593.3

Strategy:
Buy on Dips

Long above $1601-$1605, target $1617 & $1628. A break below $1601 may show $1594 & $1586.

 

U.S. Non Farm Employment Change @ 1715, Manufacturing PMI @ 1900 followed by FOMC STATEMENT- (IMPORTANT!) @ 2315 (GMT+5) hours.

 

 

Silver:
Resistance Levels:
$ 28.23 - $ 28.52 - $ 28.70


Support Levels:
$ 27.76 - $ 27.58 - $ 27.29

Strategy:
Buy on Dips

Long above $27.5-$27.70, put stop loss at $27.45, target $28.30, $28.60 & $28.90. A break below $27.50 may show $27.20 and $26.95.

Crude Oil:
Resistance Levels:
$ 89.74 - $ 91.51 - $ 92.73

Support Levels:
$ 86.75 - $ 85.53 - $ 83.76

Strategy:

Sell on Strength

 

Short below $89.00, target $87.72 & $86.84. A break above $89.60 may show $90.50 & $91.20.

 

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

CURRENCIES:

AUDUSD :
Resistance Levels:
$ 1.0530 - $ 1.0559 - $ 1.0580

Support Levels:
$ 1.0480 - $ 1.0459 - $ 1.0430

Strategy:
Neutral

GBPUSD :
Resistance Levels:

$ 1.5728- $ 1.5781 - $ 1.5833

Support Levels:

$ 1.5623 - $ 1.5571 - $ 1.5518

Strategy:
Neutral

Manufacturing PMI @ 1330(GMT+5) hours.

EURUSD :
Resistance Levels:

$ 1.2338 - $ 1.2374 - $ 1.2419

Support Levels:
$ 1.2257 - $ 1.2212 - $ 1.2176

Strategy:
Neutral

Spanish PMI 1215,  Italian PMI @ 1245 (GMT+5) hours.

Wednesday, 01 Aug, 2012 / 6:47

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

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