Trading news

Trading Analysis - 20th June 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1629 - $ 1640 - $ 1646

Support Levels:
$ 1613 - $ 1608 - $ 1597

Strategy:

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!

Wednesday, 20 Jun, 2012 / 6:23

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

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