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All Major Economies have Currency Targets ! Jan 17

January 17, 2013
LATE UPDATE…………………….
GMT 2:54 – Nothing to add, as it has been an excellent day.
View is unchanged, US Dollar will make gains……
GMT 6:05 (C) sir shall go short usd/jpy at 88.70 or wait??
GMT 6:11 – JPY @ 88.73 = Book your profit around 88.73-78….Cheers
GMT 6:23  (C) sir shall short euro at 1.3295 or wait??
GMT 8:07 (C) sir should sell gold now at 1682??
GMT 8:09 – GOLD @ $ 1682 = see small risk for a test of $ 1685-86. Pick the top to sell. Do not favour Buying….
GMT 8:58 (C) sir view unchanged on gbp??
GMT 9:00 – GBP @ 1.6015 = No prefer selling around currenct levels. Break of 1.6525-30 could see another 20 pip jump, but would sell Cable
GMT 9:07 – EURO @ 1.3348 = Sell around 1.3352-58 STOPS 1.3390………
GMT 9:10 (C) sir what about usd/jpy now??
GMT 9:57 – JPY @ 89.12 = Top around 89.30-40
GMT 13:34 – Views unchanged…Hold you gold sale around $ 1684…….Cheers
GMT 13:47 – Gold @ $ 1675 = this is the crucial level $ 1675-77 should hold for tes of $ 1668-70 or else $ 1680
GMT 13:49 – AUD @ $ 1.0540 = Should hold 1.0560 for 1.0505-10
GMT 14:00 – GOLD @ $ 1669 = book your profit around $ 1667-69 Cheers…..
GMT  14:00 -(C)  gold what to do next 1668
GMT 14:22 – GBP @ 1.5960 = Book your profit raound 1.5955-60. Cheers……
GMT 14:37  (C) gold at 1675 should go again for short sell ?
GMT 14:38 PM – GOLD @ $ 1675 = Sell STOPs $ 1678
GMT 14:50 (C) sir any position for going long on gbp??
 
 
 
 
 
GMT 3:34 – Euro @ 1.3291 – Few months ago, it was Shinzo Abe and now Juncker defending their respective currencies so why is China blamed for currency manipulation. Basically it a strategy adopted by countries to help its export rise, weak currency also attracts tourism and that helps it service industry.
Difference between now and about a year ago is that then Euro was facing threat of collapse, but today European policy makers are more comfortable with stable Euro, though Euro-zone economy is struggling to maintain required growth pace and over all economic condition remains too weak.
Meanwhile, Japanese Yen due for big correction was given support from its Economy Minister Akira Amari’s remark that an overly weak Yen is bad for its economy. I think counter questioning to Shinzo’s idea that weak Yen will inflate Japan’s economy and simultaneously help in deflating economy will give sigh of relief to BOJ’s policy makers. We could see some more correction, but Sinzo’s Abe currency interference will once again give US Dollar Bulls a chance to roar.
Euro @ 1.3291 = Euro is likley to around 1.3310-20 levels for a move towards 1.3245 or 1.3212. Apply Stop loss if 1.3360 breaks
GMT  3:53 – GOLD @ $ 1682 = As long as $ 1675-76 hold, see risk for a move towards $ 1688-90 or possible test of $ 1694-95 zones. Or else $ 1668
GMT 3:44 – AUD 1.0564 = Likley to hover around 1.0525 – 1.0585
GMT 3:42- JPY @ 88.22 = Do not see amove beyond 88.50-60 with next target 87.80-85
GMT 3:40 – GBP @ 1.6064 = Sell around 1.6085-95, apply STOPs if 1.6125-30 breaks for 1.6040 or 1.6020
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