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US Dollar Good for Short Dip before Recovery

January 2, 2013

LATE UPDATE……………
GMT 6:31 (C) sir gold more up??
GMT 6:35 -GOLD @ $ 1683 = I will wait to Sell around $ 1685. STOPS if $ 1690 surrenders
GMT 9:16 (C) if we seen euro 1.3310 should go for short ?
GMT 9:22 -View is unchnged, as market is still trying to settle down……
GMT 9:54 (C) sell gold around 1685 wait till newyork n how much down u see gold sir
GMT 9:56 – I would suggest takaing $ 4-5 profit as this is begining to the month. Will watch how NYK behaves before making any comment……
GMT 10:34 – GBP @ 1.6298 = book your profit…..Cheers
GMT 10:36 – EURO @ 1.3238 = Buy around 1.3220 STOPS if 1.3180 breaks…..
GMT 12:23 (C) gold again at 1685 1686 should sell again with 1690 sl
GMT 12:30 – GOLD @ $ 1686.70 = I am expecting $ 1680 to hold for test of $ 1689-91 zones
GMT 12:36 (C) sell at 1691
GMT 12:46 – GOLD @ $ 1690.50 = Hope you have bok your profit………Cheers
GMT 13:02 (C) sir i bought euro 1.3232 where shuold book profit current rate 1.3276?
GMT 13:06 – Yes = book your profit around 1.3275-80……cheers
GMT 13:19 (C) i sell gold 1690 where to book will break 1680 today
GMT 13:21 – GOLD @ $ 1686 = Book around $ 1684-86
GMT 13:54 – AUD @ 1.0506 = If long, book your profit around 1.0506-14 levels
GMT 15:03 (C) After ISM positive what about GOLD ?
GMT 15:06 – moeen, basically cliff has given some life to gold. If you have been following my weekly outlook, I did mention that Gold will surge if understanding is recahed on cliff issue
GMT 15:06 (C) what about euro sir ?
GMT 15:07 – Euro has started lossing its gloss……
GMT 15:11 –
Ok pals, Cheers until tomorrow…………

==========
GMT 3:09 – GOLD @ $ 1676.50 = As long as $ 1670-72 holds, could test $ 1681-83 zones.
However, my preference would be to wait and pick the top to sell for quick profit……
GMT 3:03 – AUD @ 1.0487 = Needs to break 1.0510-20 for test of 1.0550 as long as 1.0430-35 holds
GMT 3:00 – JPY @ 87.15 = Yen could still test 87.35-45 zones as long as stay above 86.70-80
GMT 2:58 – GBP @ 1.6355 = Should exhaust around 1.6380-90 to test 1.6319-20 zones
GMT 2: 52 -EURO @ 1.3294 Trading volume is still very low, as Japan is closed. After the Fiscal Cliff Vote USD has weakened and Gold has surged. Now market is waiting for Senate to Vote that may provide clearer direction.
However, I would suggest to wait for release of more info rather than making risky entry. As you all know that at the start of the month I make a cautious approach and try to build small profit before opting for aggressive stance.
Therefore, at the moment I have nothing much to add.
GMT 2: 52 -EURO @ 1.3295 = Should hold around 1.3245-50 , but unikley to surpass 1.3320-30 zones in Europe

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