Trading news

Trading Analysis - 21st June 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1623 - $ 1640 - $ 1656

Support Levels:
$ 1590 - $ 16574 - $ 1557

Strategy:
Neutral

Short below 1622, target 1597, 1590 and 1583.

Long above 1622, target 1634 and 1642.

Unemployment Claims @ 1730, Manufacturing PMI @ 1800 and Existing Homes Sales and PMI @ 1900(GMT+5) hours.

Silver:
Resistance Levels:
$ 28.5 - $ 29.1 - $ 29.5


Support Levels:
$ 27.6 - $ 27.1 - $ 26.6

Strategy:
Neutral

Appropriate level to short is 28.20 till 28.50. Upside penetration of 28.60 may call for 28.90 and 29.20.

Good support is at 27.70, 27.30 and 26.80.

Appropriate level to long is 27.10 till 27.35.

 

Crude Oil:
Resistance Levels:
$ 83.5 - $ 86.1 - $ 87.4

Support Levels:
$ 79.7 - $ 78.3 - $ 75.8

Strategy:
Neutral

Good level to buy: 80 and 81.50, put stop loss at 80. Breakage of 80 may show downfall. Good level to sell: 84.50 and 85.55.

CURRENCIES:

AUDUSD :
Resistance Levels:
$ 1.0233 - $ 1.0273- $ 1.0323

Support Levels:
$ 1.0143 - $ 1.0093 - $ 1.0053
Strategy:
Buy on Dips

 

GBPUSD :
Resistance Levels:

$ 1.5778 - $ 1.5841 - $ 1.5904

Support Levels:

$ 1.5652 - $ 1.5589 - $ 1.5526

Strategy:
Buy on Dips

Retail Sales @1330, 10 year bond auction(tentative) and Industrial orders @ 1500(GMT+5) hours.

EURUSD :
Resistance Levels:
$ 1.2754 - $ 1.2802 - $ 1.2860

Support Levels:
$ 1.2648 - $ 1.2590 - $ 1.2542

Strategy:
Buy on Dips

French Manufacturing & Services PMI @ 1200, German Manufacturing & Service PMI @ 1230, Current Account and Manufacturing & Services PMI @ 1300, and ECB Pres Speaks @2100 (GMT+5) hours.

Thursday, 21 Jun, 2012 / 3:29

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

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