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Trading Analysis 8th August 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1620.5 - $ 1626.0 - $ 1630.8

Support Levels:
$ 1610.2-  $ 1605.4 - $ 1599.9

Strategy:
Buy on Dips

Long above $1605, put stop loss below $1595, target $1615-$1618 & $1623-$1629. A fall below $1600 may show $1595 & $1585.

 

U.S. Non-Farm Productivity and Unit Labor Cost @ 1815, 10 year bond Auction @ 2245 (GMT+5) hours.

Silver:
Resistance Levels:
$ 28.24 - $ 28.43 - $ 28.68


Support Levels:
$ 27.79 - $ 27.54 - $ 27.35

Strategy:
Buy on Dips

 

Long above $27.80, put stop loss below $27.60, target $28.15 - $28.40. A fall below $27.60 may show $27.30 & $27.05.

Crude Oil:
Resistance Levels:
$ 94.65 - $ 95.86 - $ 97.29

Support Levels:
$ 92.01 - $ 90.58 - $ 89.37

Strategy:

Neutral

 

Oil is expected to trade in the range of $92.10 - $95.00.

 

Crude Oil Inventories @ 2015(GMT+5)hours.

 

CURRENCIES:

AUDUSD :
Resistance Levels:
$ 1.0588 - $ 1.0622 - $ 1.0643

Support Levels:
$ 1.0533 - $ 1.0512 - $ 1.0478

Strategy:
Sell on Strength

GBPUSD :
Resistance Levels:

$ 1.5680 - $ 1.5741 - $ 1.5799

Support Levels:

$ 1.5561 - $ 1.5503 - $ 1.5442

Strategy:
Neutral

 

 

BoE Government King Speaks and Inflation Report @ 1515 (GMT+5) hours.

EURUSD :
Resistance Levels:

$ 1.2434 - $ 1.2470 - $ 1.2500

Support Levels:
$ 1.2368 - $ 1.2338 - $ 1.2302

Strategy:
Sell on Strength

German Industrial Production @ 1545( GMT+5) hours, German 10-year bond today.

Wednesday, 08 Aug, 2012 / 4:42

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

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