Trading news

Trading Analysis - 26th April 2012

TECHNICAL's IN FOCUS

Gold: 
Resistance Levels:
$ 1651.60 - $1660.90 - $1674.20

Support Levels:
$ 1629.00 - $1615.70 - $1606.40

Strategy:
Sell on Strength
Short below 1650, target 1636 & 1625. An upside penetration of 1650 may call for 1657 & 1666.
U.S. Unemployment Claims at 1730, followed by Pending Home Sales at 1900 (GMT+5) hours

Silver:
Resistance Levels:
$ 30.91 - $ 31.46 - $ 31.95

Support Levels:
$ 29.87 - $ 29.38 - $ 28.83

Strategy:
Buy on Dips
Long above 30.00, target 31.00. If market breaks 31.00, it may call for 31.95, otherwise it will remain range bound between30.00 and 31.00.

Crude Oil: 
Resistance Levels:
$ 104.80 - $ 105.40 - $ 106.20

Support Levels:
$ 103.30 - $ 102.50 - $ 101.80

Strategy:
Sell on Strength
Short below 104.9, target 103.3 & 102.5. Upside penetration of 104.9 may call for 105.50 & 106.60.

CURRENCIES: 

AUDUSD :
Resistance Levels:
$ 1.0386 - $ 1.0414 - $ 1.0455

Support Levels:
$ 1.0317 - $ 1.0276 - $ 1.0248

Strategy:
Buy on Dips

GBPUSD :
Resistance Levels:
$ 1.6210 - $ 1.6246 - $ 1.6311

Support Levels:
$ 1.6109- $ 1.6044 - $ 1.6008

Strategy:
Buy on Dips
Mortgage Approval at 1330; CBI Realized Sales at 1500 (GMT+5) hours

EURUSD :
Resistance Levels:
$ 1.3252 - $ 1.3275 - $ 1.3315

Support Levels:
$ 1.3189 - $ 1.3149 - $ 1.3126

Strategy:
Buy on Dips

ECB President Draghi speaks at 1230 (GMT+5) hours

Thursday, 26 Apr, 2012 / 4:21

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

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