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GOLD – EURO – AUD to Gain GBP & YEN to ease – May 08

May 8, 2013

Interaction with my Subscribers during the day……………

10:01 AM – EURo @ 1.3142 = Book your profit around 1.3142-48……Cheers
10:06 AM – GOLD @ $ 1451 = Hope you have purchased around current levels. STOPS if $ 1446 breaks………
10:19 AM -sir i shorted gbp at 1.5485.. stops 1.5525 ok ??
10:25 AM -GBP @ 1.5502 = pd, this is your position, as I have indicated that Cable will struggle around 1.5520 on break of 1.5498, which means that it will test 1.5598 and break would see 1.5520. 
This view is valid. 
Those went long should book profit around 1.5505-10
and go Short around 1.5530 levels……Cheers
 11:23 AM – GOLD $ 1460= Book your profit around $ 1460-62…..Cheers
12:03 PM – sir shall go short gold at 1465??
 12:05 PM – GOLD @ $ 1465 = Prefer selling around $ 1467-69. Stops $ 1473…..
12:13 PM – Care could still test $ 1468-69 levels……………..
12:20 PM  -Hope you have sold around $ 1468. Stops $ 1473. Do book your profit arund $ 1461-63…….
12:29 PM – EURO @ 1.3146 = Upside 1.3170 is intact, would wait to pick top to sell Euro…..
 12:37 PM – Sir, I have taken a sell in Euro at 1.3161 where do I take profit and stoploss. 
12:42 PM – OK, thought short around 1.3170 would have given you more cushion With Stops @ 1.3198 watch 1.3120-25, break will encourage to drop below round figure to test 1.3080-85 zones…cheers
1:04 PM – JPY @ 98.63 – the expected has occured should hold around 98 57-63 Book profit and Sell Jpanese currency with Sops 98.20………..Cheers
1:22 PM – sir euro sold at 1.3170 with stop 1.3205?
1:25 PM – now gold 68 what to do sell now
1:25 PM -EURO @ 1.3164 = Hi all, please note that if EURO fails to hold below 1.3145-50 we could see a move stretching towards 1.3210…………………
 1:26 PM – Sorry made a blunder in EURO comment, pleasde read if EURO fails to DIP below not HOLD below. Thanks
1:28 PM – I ahve alraedy given sell signal around $ 1468-70 wit STOPS $ 1474
1:33 PM – sir should go short gbp ?1.5533 stop loss 1.5560?
2:46 PM – gold where to book profit
 2:58 PM -I already gave earlier signal to book profit on dip around $ 1461-63
You do not check my post regularly.
Now, after re-testing the the days high gold should re-test $ 1460-63 zones…..
3:00 PM – JPY @ 98.82 = book your profit around 98.82-88………..
3:01 PM  -GBP @ 1.5566 = Cable is probing new highs should find top around 1.5570-80 zones
3:04 PM – Ok pals, do apply Stops and check the post for trading levels, which is still good…………
Cheers until tomorrow……….

 

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So far, Australian interest rate cut is the major event of the week, otherwise foreign exchange market activity is dull and trading is taking place in narrow ranges in the absence of any major global data. Economic release from Europe and USA had little or no impact on the market as they were of soft nature. But Japanese, European and US equity market are benefiting from the global slowdown that has forced Central Bank’s to linger on with it’s easing policy.
Today, once again there is no major data announcement. However, minor release of economic numbers from Europe will provide short  trading opportunities. China’s trade surplus surging to USD 18.16 billion should encourage sentiments, which was far better than expectation, as March was in USD 884 million deficit. 
In present situation, I am am of view that Gold may not drop today, so buy in dip will be preferred strategy. Euro could once gain find buyers on dip and Australian Dollar will benefit from positive Chinese data and should make minor recovery. But Japanese Currency will be sold on rally. Cable could struggle and may find sellers on rise. 

Catch me on twitter        @asadcmka          More Later……………

GMT – 2:49 – AUD 1.0182 = Initially may stay above 1.0140-50 for 1.0215-20, but beyond that level I would recommend for a cautious approach, as fall is expected before reaching 1.0240-50 zones.
GMT – 2:54 – JPY @ 99.04 = I do not see a move beyond 98.60-70 levels, but needs to make a clear break of 99.55 for bigger move or else 98.30.
GMT – 3:00 – GBP @ 1.5480 = Cable may struggle around 1.5520 zones, which is possible only on break of 1.5498. A fall below 1.5440 will encourage for a test of 1.5420-25 zones.
GMT – 3:07 – GOLD @ $ 1455 = Gold could make a small comeback and should hold $ 1447-49 levels. Buying interest should be seen around $ 1450-52 for test of $ 1463-66 zones. Would choose levels to sell around $ 1465-70
GMT – 2:42 – EURO @ 1.3088 =  I would still prefer to sell around 1.3050 levels and will be cautious if its dips and break 1.3020, as I am expecting another test of 1.3135-40 zones. Break will encourage for 1.3170
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