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Trading Analysis 31st July 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1631.0 - $ 1636.7 - $ 1643.4

Support Levels:
$ 1618.6-  $ 1611.9 - $ 1606.2

Strategy:
Sell on Strength

Short below $1630, target $1600. Break above $1630 may call for $1645.

 

U.S. Core PCE, employment cost, personal spending @ 1730, HPI @ 1800, Chicago PMI @184, Consumer Confidence @ 1900 (GMT+5) hours.

 

Silver:
Resistance Levels:
$ 28.4 - $ 28.6 - $ 29.1


Support Levels:
$ 27.7 - $ 27.3 - $ 27.1

Strategy:
Sell on Strength

Short below $28.25, target $27.70 and $27.50. A break above $28.25 may call for $28.60 and $28.90.

Crude Oil:
Resistance Levels:
$ 90.5 - $ 91.6 - $ 92.2

Support Levels:
$ 88.9 - $ 88.3 - $ 87.3

Strategy:

Range Trade

Oil is likely to remain in the range of $89.00 - $90.50. A break above $90.50 may show $91.50, a break below $89.00 may show $87.40 and $86.90.

 

 

CURRENCIES:

AUDUSD :
Resistance Levels:
$ 1.0523 - $ 1.0545 - $ 1.0582

Support Levels:
$ 1.0464 - $ 1.0427 - $ 1.0405

Strategy:
Sell on Strength

GBPUSD :
Resistance Levels:

$ 1.5748- $ 1.5787 - $ 1.5826

Support Levels:

$ 1.5670 - $ 1.5631 - $ 1.5592

Strategy:
Sell on Strength

EURUSD :
Resistance Levels:

$ 1.2304 - $ 1.2349 - $ 1.2389

Support Levels:
$ 1.2219 - $ 1.2179 - $ 1.2134

Strategy:
Sell on Strength

German retail sales @ 1100, French consumer spending @ 1145, German unemployment change @1255, CPI flash & Unemployment rate @ 1400, (GMT+5) hours.

Tuesday, 31 Jul, 2012 / 4:18

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

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