Trading news

Trading Analysis - 2nd May 2012

TECHNICAL's IN FOCUS

Gold: 
Resistance Levels:
$ 1670.60 - $1678.90 - $1685.40

Support Levels:
$ 1655.80 - $1649.30 - $1641.00

Strategy:
Sell on Strength
Short below 1669, target 1638, stop loss 1672.An upside breakage of 1672 may hit 1685

U.S. Non Farm Employment Change at 1715 followed by Factory Orders at 1900 (GMT+5) hours.

Silver:
Resistance Levels:
$ 31.27 - $ 31.60 - $ 31.84

Support Levels:
$ 30.69 - $ 30.45 - $ 30.12

Strategy:
Sell on Strength
Short below 31.27, target 30.12, stop loss at 31.84.

Crude Oil:
Resistance Levels:
$ 106.93 - $ 107.70 - $ 108.97

Support Levels:
$ 104.89 - $ 103.62 - $ 102.85

Strategy:
Range Trade
Most likely to trade in the range of 103.62 to 106.93.

Crude Oil Inventories at 1930(GMT+5) hours

CURRENCIES:

AUDUSD :
Resistance Levels:
$ 1.0406 - $ 1.0478 - $ 1.0530

Support Levels:
$ 1.0282 - $ 1.0230 - $ 1.0158

Strategy:
Sell on Strength

GBPUSD :
Resistance Levels:
$ 1.6248 - $ 1.6277 - $ 1.6309

Support Levels:
$ 1.6187 - $ 1.6155 - $ 1.6126

Strategy:
Sell on Strength

Construction PMI and Net Lendings at 1330 (GMT+5)hours

EURUSD :
Resistance Levels:
$ 1.3278 - $ 1.3320 - $ 1.3357

Support Levels:
$ 1.3199 - $ 1.3162 - $ 1.3120

Strategy:
Sell on Strength

German Unemployment Change at 1255, Euro Unemployment Change at 1400(GMT+5)hours followed by ECOFIN Meeting All Day!

Wednesday, 02 May, 2012 / 4:21

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

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