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US Dollar to remain mildly soft – Jan 08

January 8, 2013

LATE UPDATE………
GMT 8:51 (C) gold view un changed should sell if 56 see
GMT 8:55- view unchanged as 1st target of the day is to book profit on up-move. More later……
GMT 10:13 (C) sir view on euro unchanged after unemployment rate??
GMT 10:20 – Slightly better data…View unchanged
GMT 10:20 – GOLD @ $ 1653.50 = Book your profit around $ 1653.50-55…Cheers
GMT 11:57 – AUD @ 1.0508= I am withdrawing my earlier call to sell Aud around 1.0510 as Aud is likely to test 1.0530-35 zones…
GMT 12:03 (C) sir shall sell gold at 1656!!
GMT 12:07 – Golg @ $ 1656 = View unchanged. Prefer elling around $ 1658 STOps if $ 1663 breaks……..
GMT 13:01 (C) where to book profit in gold
GMT 13:05 Gold @ $ 1651.50= book profit around 1650-52
GMT 13:41 (C) sir shall sell gold again at 1658 if seen!!
GMT 14:02 – (C) sir euro broke 1.3080 level.. now bias on downside or can correct from here??
GMT 14:07 – EURO @ 1.3080 = has to clear 1.3095 for 1.3115-20. Suggest square if seen. failure could push it down to 1.3050-60
GMT 14:32 – (C) sir sold gold again at 1657.. where to take profit?
GMT 14:35 – Well, this could be risky watchout. Failre to break below $ 1652-53 risk for test of $ 1663

GMT 15:12 – Gold was the best trade as there was 4 correct calls.
Cable was a loss deal
Yen @ 87.28 = as long as 87.50-60 hold, looking for dip to taest 87.10 that can extend up to 86.92.
EURO @ 1.3077 = Hope you did cut you Euro
position at minor loss.
I am bit cautious this week because I am not getting good hold of the trend and this is why, my applying qucj and small STOPS.
Not to worry, will soon catch the trend……
Cheers until tomorrow

==========
GMT 3:47 – GOLD @ $ 1648 = All indicators are pointing towrads fall, but see small risk that if $ 1642-43 holds a small upmove towrds $ 1656-58 is possible before down again.
GMT 3:38 – JPY @ 87.64 = Made one attempt towards 87.20 before buncing back. Now if the Japanese currency finds resistance around 87.40-50 zones could re-tesr 87.90-95 zones Or else could see break and test of 87.10
GMT 3:30 – AUD @ 1.0489 = Looks a suspect would prefer to catch the top to sell around 1.0510 with STOPS 1.0535 for test of 1.0445-55 zones
GMT 3:27 – GBP 1.6115 = Bias on upside, Cable is buy on dips around 1.6085-95 zones STOPS 1.6060 for 1.6150-60
GMT 3:21 @ 1.3130 – Following last week’s FED FOMC minutes, this week, market will take clue from the speeches of Fed members to know that how serious FED is to end its asset buying program and to do away with quantitative easing (QE) strategy. I think market should keep an eye on every small US economic data that will be taken seriously and could provide direction to the market.
Focus is also likely to be on ECB monetary policy announcement on Thursday, I am expecting Euro-zone rates to remain unchanged because its a valuable tool that ECB would like to may timely and effective use of it. Though Euro-zone economy is not shaping well, but European region’s problem is not over as yet.
Meanwhile, after soft Australian economic data that showed widening of trade deficit and its commercial construction activity still growing at a slow pace suggesting Aussies could apply a break and mild correction is possible.
EURO @ 1.3130 = A break of 1.3080-85 suggest that it should act as support line as Euro is likely to make a gradual move towards 1.3150-60 zones and may bounce back from around 1.3105 levels.

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