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Economic Data to Determine Trend

January 3, 2013

LATE UPDATE………………
GMT 8:13 (C) sir euro should buy if we seen 1.3120 ?
GMT 8:26 – Euro @ 1.3150 = View Unchanged………
GMT 9:09 (C) sir i bought at 1.3134 should book profit or wait ?
GMT 9:09 – EURO @ 1.3166 = Book your profit around 1.3166-72…..
GMT 9:22 (C) Is it still valid that expecting 1.3105 to hold for re-test of 1.3160-80 zones. Or not?
GMT 9:47 – We have already seen a test a 1.3166 and I have flashed to book profit. Now we should be trading in 1.3120-70 until the announcement of US economic data…Cheers
GMT 10:39 – Euro @ 1.3103 = Buy around 1.3097-03 STOPS 1.3065
GMT 10:41 – GBP @ 1.6193 = Allow Cable to test 1.6165-70, which is the next entry level…
GMT 10:56 – GOLD @ $ 1682 = Book your profit around $ 1680-82 and go Long around $ 1678 with STOPS $ 1674
GMT 12:00 – JPY @ 86.85 = Wait to Sell Yen around 86.75-80 with STOPS 86.40
GMT 12:02 – JPY @ 86.88 = sell YEN buy USD………
GMT 13:32 – Hold all position with patience……
View unchnged………..
GMT 14:28 (C) sir where to take profit of usd/jpy!!
GMT 14:34 – you have to plan a strategy for JPY. I fear that if Yen does not weaken beyond 87.20-30. We could see more Yen gains. Suggest quick squaring of Yen Position and avoid taking risk….Cheers
GMT 14:32 (C) sir not going above 1680 after us data as u told hold same view
GMT 14:37 – GOLD @ $ 1677.50 = You are right manish. I am also watching that level. Better sqaure long gold position as could dip to teat $ 1672 zones, if fails to break 1780. Play safe………
GMT 14:39 – EURO @ 1.3105 & GBP @ 1.6166 =
Suggest squaring as I do not want to spoil aother good day…….
GMT 14:49 (C) sell gold now or wait
GMT 15 – I am not recomending trading activity because FOMC minutes is due in next 4 hours and I will not be surprised to see FED adopting Dovish approach, which see may gold and all Major currencies surging. I prefer to stay square. Now choice is yours if you still want to tarde…
GMT 15:06 – Ok pals, it was tricky but again a profitable day unless you kept your position exposed and did not follow my post……
Cheers until tomorrow…………

==========
GMT 3:37 – GOLD @ $ 1687 = Should hold around $ 1690 and do not see any threat as long as gold stays below $ 1695-60 for $ 1680-82.
GMT 3:33 – AUD 1.0477 = Likey to bounce back from 1.0450-60 zones. Do not see threat of more losses as long as 1.0420 holds, but 1.0505-15 will be tough to crack
GMT 3:30 – JPY @ 87.25 = Still weak as long as 86.70 holds. Trading range 87.05 – 87.60
GMT 3:28 – GBP @ 1.6207 = prefer buying aroun 1.6190-00 STOPS 1.6160 for 1.6245-50
GMT 3:25 – EURO @ 1.3132 = Though market is back after long holidays, but they are still looking for direction after the last minute fiscal deal. Stock, oil and gold did respond positively, but US Dollar recovered some of its losses in New York.

I think we could see a shift in sentiments towards economic data. Today China’s Non-Manufacturing PMI has once again shown signs of recover, later after few hours in early European session, UK will release its economic numbers to be followed by German job data could set the mood.
However, all eyes will be in US market as they will be releasing loads of economic data, but release of FOMC minutes few hours before close of US market will be of key interest.
Therefore, during rest of Asian session and in Europe trading activity is likely to remain in a narrow band, unless is a large order or if there is a news flash that has potential to move the market. Market is still thin.
EURO @ 1.3132 = I am expecting 1.3105 to hold for re-test of 1.3160-80 zones. Break below 1.3070 could threaten for more losses

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