Trading news

Trading Analysis - 24th May 2012

TECHNICAL's IN FOCUS

Gold: 
Resistance Levels:
$ 1567.00 - $1585.60 - $1602.70

Support Levels:
$ 1531.30 - $1514.20 - $1495.60

Strategy:
Range Trade

Short below 1567,  put stop loss at 1572. A good level to buy is around 1533. 
Word of Caution: Put Stop Loss while trading as market is giving mixed signals!
U.S. Unemployment Claims & Durable Goods @ 1730 followed by Flash Manufacturing @ 1800(GMT+5) hours.
 
Silver:
Resistance Levels:
$ 28.09 - $ 28.68 - $ 29.18

Support Levels:
$ 27.00 - $ 26.50 - $ 25.91

Strategy:
Range Trade

Long above 27.20, put stop loss at 26.70. A good level to short is 28.20.

Crude Oil: 
Resistance Levels:
$ 91.32 - $ 92.74 - $ 93.76

Support Levels:
$ 88.88 - $ 87.86 - $ 86.44

Strategy:
Sell on Strength

Short below 91.50, target 89.20 and put stop loss at 92.10. Downside penetration of 89.20 may call for 86 and 85.


CURRENCIES:

AUDUSD :
Resistance Levels:
$ 0.9773- $ 0.9820 - $ 0.9862

Support Levels:
$ 0.9684 - $ 0.9641 - $ 0.9595

Strategy:
Range Trade

AUD is likely to remain in the range of 0.9641 and 0.9820

GBPUSD :
Resistance Levels:
$ 1.5739 - $ 1.5798 - $ 1.5831

Support Levels:
$ 1.5647 - $ 1.5614 - $ 1.5555

Strategy:
Range Trade

GBP is likely to remain in the range of 1.5614 and 1.5798.
Revised GDP, Mortgage Approvals , Business Investment & Index of Services all @ 1330(GMT+5) hours.

EURUSD :
Resistance Levels:
$ 1.2650 - $ 1.2739 - $ 1.2792

Support Levels:
$ 1.2508 - $ 1.2455 - $ 1.2366

Strategy:
Range Trade
EUR is likely to remain in the range of 1.2508 and 1.2739.

French PMI @ 1200, German PMI @ 1230, German IFO @ 1300, Euro Manufacturing & Services PMI @ 1300 and Belgium Climate & ECB Pres Draghi Speaks @ 1800 (GMT+5) hours.

Thursday, 24 May, 2012 / 5:26

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

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