TECHNICAL's IN FOCUS
Gold:
Resistance Levels:
$ 1646.3 - $ 1658.3 - $ 1674.3
Support Levels:
$ 1618.3 - $ 1602.3 - $ 1590.3
Strategy:
Sell on Strength
Short below 1632, target 1617 and 1609, put stop loss at 1643. A strong support level is 1613, if it breaks, market may go down to 1597.
Word of caution: put stop loss and take profits as Bernanke Testifies.
Unemployment Claims @1730(GMT+5)hours.
Fed Chairman Bernanke Testifies @1900(GMT+5)hours.
Silver:
Resistance Levels:
$ 30.09 - $ 30.70 - $ 31.55
Support Levels:
$ 28.64 - $ 27.79 - $ 27.18
Strategy:
Neutral
A good level to long is 28.90, target 29.58 and 29.90. A strong support level is 28.70, if it breaks, market may go down.
Crude Oil:
Resistance Levels:
$ 86.18 - $ 87.35 - $ 88.42
Support Levels:
$ 83.94 - $ 82.87 - $ 81.70
Strategy:
Sell on Strength
Short below 85.41, target 83.31. Upside penetration of 85.41 may call for 86.11.
CURRENCIES:
EURUSD :
Resistance Levels:
$ 1.2631 - $ 1.2680 - $ 1.2776
Support Levels:
$ 1.2486 - $ 1.2390 - $ 1.2341
Strategy:
Neutral
GBPUSD :
Resistance Levels:
$ 1.5549 - $ 1.5603 - $ 1.5692
Support Levels:
$ 1.5406 - $ 1.5317 - $ 1.5263
Strategy:
Neutral
Halifax HPI @1200(GTMT+5)hours.
Services PMI @1330(GMT+5)hours.
Asset Purchase Facility @1600(GMT+5)hours.
Official Bank Rate @1600(GMT+5)hours
MPC Rate Statement Later Today
AUDUSD :
Resistance Levels:
$ 0.9993 - $ 1.0060 - $ 1.0188
Support Levels:
$ 0.9798 - $ 0.9670 - $ 0.9603
Strategy:
Neutral