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Heading for Dull Asian & European Session – April 19

April 19, 2013

CATCH ME ON TWITTER………………       @asadcmka

Interaction with my Subscriber (S) during the day……………

5:56 AM  – GOLD @ $ 1414 = Book your profit arpound $ 1414-16…….Cheers

6:01 AM – GOLD @ $ 1414 = Sellaroudn $ 1414-17. Try to pick top STOPs $ 1423……………..

6:16 AM – GOLD @ $ 1422 = There is spossibility of test of $ 1424-26 before easing………………….

6:40 AM – Sir where to book profit in gold?

6:50 AM – GOLD @ $ 1416.50 = pd, it seems that we may have seen the up and should not move beyond $ 1422-24 anymore. however on the downside watch $ 1408, but break below $ 1402 would mean more losses

6:52 AM – GBP @ 1.5324 = Book your profit around 1.5324-28  and go short around 1.5340 if seen with Stops 1.5380.Cheers

 6:55 AM – JPY @ 98.80 = The expected move has occured. Hope you have book your profit around 98.90 and went long JPY wait for next signal and do apply given STOPS…………

7:40 AM – JPY @ 99.20 = Close to crucial levels 99.25-30 break risk for 99.70. Need to push below 98.70………….

9:48 AM – sir what about gold?

12:39 PM – GOLD @ $1404 = Book your profit around $ 1402-04…..Cheers

2:01 PM – do buy at gold 02

2:04 PM – GOLD @ $ 1405 = Prefer selling aroudn $ 1406-08 Stops $ 1412. Break $ 1398 will encourage for test of $ 1393-95

 2:16 PM – GBP @ 1.5288 = Book your profit around 1.5282-88…..Cheers

3:02 PM -Ok pals, end of fine week…Cheers until Monday…………….

=================

As market is waiting to hear some official words from G20 members, this why recent release of poor US economic data did not impact trading activity. It also because there are mixed events happening, which is confusing the traders. Italian decision on President has been delayed despite 2-times unsuccessful voting and matter still remains an unresolved issue that makes market nervous. There was also news about French Bank in trouble that was later denied.
So it is not easy to get good grasp of the market and with no major data announcement today, I will not be surprised to see dull activity during rest of Asian and European session, as market may wait for US for direction. I am not expecting any new surprise from G20. However, there some mixed signals coming from G20 meeting, mostly on Japan’s recent policy stance on its currency to support weak Japanese currency.
Normal practice is that official do not discuss currencies or currency policy openly, but at times it has been noted that such information somehow reaches traders desk. One thing is for sure that if no official word is heard on Japan’s MPS stance, Yen could be clobbered after G20 meeting is over, but for today we could still see Japanese currency making a feeble effort to gain some strength unless the Group of 20 decides to speak on the subject openly

GMT 2:49 – GBP @ 1.5290 = See minor risk for a test of 1.5310-20 zones, but up move should exhaust and should get protection below 1.5360 for a dip and test of 1.5260-65. However, 1.5230 should hold. Prefer picking top to sell.
GMT 3:03 – JPY @ 98.62 = I am expecting 98.30 to hold now for test 98.85-90 , but should move beyond 99.20 for possible test and break of 98.10, as 97.70 is the crucial level.
GMT 3:11 – AUD 1.0320 = Pressure will be on Aussie, as it has two barriers 1.0350 and 1.0385. See risk for a fall and break of 1.0270 will encourage for a test of 1.0240-50 zones.
GMT 3:15 – GOLD @ $ 1395.70 = Strong support is around $ 1382-84. Do not see fall below $ 1387, as I see risk for test and break of $ 1404 for possible test of $ 1410-15 zones. Or else $ 1375.
GMT 2:41 – EURO @ 1.3067 = Likely to find top around 1.3080-90 zones with bottom around 1.3030. Upside break could see a stretch towards 1.3125 and on the downside 1.2990 needs to be protected or else 1.294550 could be challenged.

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