Trading news

Trading Analysis 5th July 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1619.90 - $ 1624.90 - $ 1629.00

Support Levels:
$ 1610.80 - $ 1606.70 - $ 1601.70

Strategy:

Buy on Dips

Buy above $1605 targeting 1640. A break A break below $16 $1605 will call or $1586. will call for $1.

Unemployment claims @ 1730, ISM Non-manufacturing PMI @ 1730, ADP Non-farm employment change @1715 (GMT + 5) ECB Press Conference @ 1730 (GMT + 5)

 


 Silver:
Resistance Levels:
$ 28.285 - $ 28.460 - $ 28.590

Support Levels:
$ 27.980 - $ 27.850 - $ 27.675

Strategy:
Buy on Dips

Buy above $27.80 targeting $28.80. A break below $27.80 will call for $27.30.

 

 


Crude Oil:
Resistance Levels:
$ 87.71 - $ 88.38 - $ 88.98

Support Levels:
$ 86.44 - $ 85.84 - $ 85.17

Strategy:
Buy on Dips

Buy above $85.40 targeting $90.00. A break below $85.40 will call for $82.13.

Crude Oil inventories @ 2000 1715 (GMT + 5)

CURRENCIES:

AUDUSD :
Resistance Levels:
$ 1.0308 - $ 1.0343 - $ 1.0367

Support Levels:
$ 1.0249 - $ 1.0225 - $ 1.0190

Strategy:
Sell on Strength

 


 



GBPUSD :
Resistance Levels:
$ 1.5663- $ 1.5753 - $ 1.5782

Support Levels:
$ 1.5544 - $ 1.5499 - $ 1.5425

Strategy:
Buy on Dips

Asset Purchase Facility @ 1600, Official bank rate @ 1600, MPC Rate Statement(GMT + 5)



EURUSD :
Resistance Levels:
$ 1.2586 - $ 1.2646 - $ 1.2686

Support Levels:
$ 1.2486 - $ 1.2446 - $ 1.2386

Strategy:
Buy on Dips

Minimum Bid rate @ 1645, Germany factory orders @ 1500 (GMT + 5), Spanish and French Bond auctions All day

Thursday, 05 Jul, 2012 / 5:17

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

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