TECHNICAL's IN FOCUS
Gold:
Resistance Levels:
$ 1629 - $ 1640 - $ 1646Support Levels:
$ 1613 - $ 1608 - $ 1597Strategy:
Neutral
Long above 1606, target 1620 and 1634. Breakage of 1634 (a strong resistance) may call for 1650 and 1664.Downside breakage of 1606 may show 1594 and 1580.
FOMC Statement & Federal Funds Rate @ 2130, FOMC Economic Projection @ 2300 and FOMC Press Conference @ 2315(GMT+5) hours.
Silver:
Resistance Levels:
$ 28.7 - $ 29.1 - $ 29.4
Support Levels:
$ 28.1 - $ 27.8 - $ 27.5
Strategy:
Neutral
Silver is expected to trade in the range of 28.20 and 29.00. Upside breakage of 29.15 may call for 29.55 and 29.90 and downside breakage of 28.20 may show 27.55 and 27.20.
*breakage of range will show direction*
Crude Oil:
Resistance Levels:
$ 85.2 - $ 86.0 - $ 87.3
Support Levels:
$ 83.0 - $ 81.7 - $ 80.8
Strategy:
Neutral
Oil is expected to trade in the range of 82.20 and 85.50. Upside breakage of 85.50 may show 87.00. Downside penetration of 82.20 may call for 81.65 and 81.10.
Crude Oil Inventories @ 1930(GMT+5) hours.
CURRENCIES:
AUDUSD :
Resistance Levels:
$ 1.0225 - $ 1.0262- $ 1.0323
Support Levels:
$ 1.0127 - $ 1.0066 - $ 1.0029
Strategy:
Buy on Dips
GBPUSD :
Resistance Levels:
$ 1.5783 - $ 1.5842 - $ 1.5926
Support Levels:
$ 1.5640 - $ 1.5556 - $ 1.5497
Strategy:
Buy on Dips
Claimant Count Change; MPC Meeting Minutes & Unemployment Rate @ 1330(GMT+5) hours
EURUSD :
Resistance Levels:
$ 1.2754 - $ 1.2823 - $ 1.2916
Support Levels:
$ 1.2592 - $ 1.2499 - $ 1.2430
Strategy:
Buy on Dips
Word of Caution: Book your trades and put stop loss as FOMC press conference takes place!