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Trading Analysis 7th August 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1620.1 - $ 1625.8 - $ 1633.2

Support Levels:
$ 1607.0-  $ 1599.6 - $ 1593.9

Strategy:
Buy on Dips

Long above $1593, put stop loss below $1583, target $1611, $1618 & $1629. A fall below $1593 may call for $1585.

 

U.S. Fed Chairman Bernanke to speak today (IMPORTANT!)

 

Silver:
Resistance Levels:
$ 28.9 - $ 28.1 - $ 28.3


Support Levels:
$ 27.6 - $ 27.3 - $ 27.2

Strategy:
Buy on Dips

 

Long above $27.35, put stop loss below $27.05, target $28.02 & $28.40. A fall below $27.35 may call for $27.05 & $26.80.

Crude Oil:
Resistance Levels:
$ 92.7 - $ 93.3 - $ 94.4

Support Levels:
$ 91.0 - $ 89.9 - $ 89.3

Strategy:

Sell on Strength

 

Short below $91.70, put stop loss above $92.00, target $90.90 & $ 89.12.

 

 

CURRENCIES:

AUDUSD :
Resistance Levels:
$ 1.0595 - $ 1.0622 - $ 1.0652

Support Levels:
$ 1.0538 - $ 1.0508 - $ 1.0481

Strategy:
Sell on Strength

GBPUSD :
Resistance Levels:

$ 1.5662 - $ 1.5723 - $ 1.5781

Support Levels:

$ 1.5543 - $ 1.5485 - $ 1.5424

Strategy:
Sell on Strength

 

Manufacturing Production @ 1330, GDP Estimate @ 1900 (GMT+5) hours.

EURUSD :
Resistance Levels:

$ 1.0595 - $ 1.0622 - $ 1.0652

Support Levels:
$ 1.0538 - $ 1.0508 - $ 1.0481

Strategy:
Sell on Strength

Italian Industrial Production @ 1300, GDP @ 1400, German Factory Orders @ 1500( GMT+5) hours.

Tuesday, 07 Aug, 2012 / 3:34

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

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