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Why Traders are Nervous on Monday’s – Nov 05

November 5, 2013
It was once again a dull start to the new week, which is now becoming a common practice in the global financial market. This a new trend witnessed in recent times, which indicates too much of uncertainty or loss of confidence, as market probably wait for someone to take the lead or either wait for direction before taking risk.
It is true because Europe, USA, Japan and others are loaded with financial problems, which frequently pops up after short intervals. World financial managers look for temporary solutions as do not have the capability/ability to fix them permanently. To avoid collapse they are mostly looking for ways to inflate the economy through artificial methods that causes the reoccurring of problem and this will remain an unending trend.
Legislative changes through Parliamentary, regulatory changes at domestic levels, amending accounting rules, expanding of balance sheets through artificially means and gathering of world leaders is not the cure to the problem unless addressed in true sense. Regulators and rating agencies will have to take honest and timely decision. Law makers at every levels will have to be give fair opinion/decision or else the world financial will witness more such happenings that will often lead to uncertain market condition.
Meanwhile, European economic data was in a comfort zone. Germany growth data was once again hinting that the economic pick up is not shying away and the confidence level is on the up. But overall it is European slow growth rate, which needs to push higher that is exerting pressure on the European currency. Thursday’s MPS will give further clue about the seriousness of economy in the Euro-zone region. Today’s release of European economic data will help in building up sentiment.
While, yesterday’s release of positive ISM and US factory orders did not push US Dollar higher. Today’s ISM Non-Manufacturing PMI may provide some spark, which will indicate growth in service sector industry. Similarly, in UK Charted Institute of Purchasing and Supply will be releasing Markit Service PMI and a positive number is likely to support Pound Sterling after yesterdays PMI Construction Index that rose to 59.4 from 58.9.
GMT 3:02 – GOLD @ $ 1317.50 = Today during Asian and European session gold should hold around $ 1312-15 levels for a move towards $ 1322-25 levels break will encourage for a test of $ 1328-30 zones, or else $ 1307.
GMT 3:09 – EURO @ 1.3504 = Euro may not break 1.3460-70 levels and move beyond 1.3535-40 will encourage for another 30-40 pip up move before down again or else 1.3440.

GMT 3:14 – GBP @ 1.5975 = Before data Cable should hold around 1.5950-60 levels for a move towards 1.6010-15 on break of 1.5990. But real challenge is at 1.6050. Else watch 1.5910, break risk for test of 1.5880-85 zones.
JPY @ 98.30 = JPY is likely to remain in a narrow 98.05 -98.60 band. Only break of band risks for another 25 pip move both way.
 AUD @ 0.9497 = Aussie has support around 0.9470-80 zones, as long as it holds, a move and break of 0.9540-50 is a good possibility or esle AUD will test 0.9410-20 levels.

Twitter @asadcmka………

 

Inter – action with my Blog Subscribers…….

5:24 AM   GOLD @ $ 1314.25 = I would still wait for dip, which could extend a bt if $ 1311 breaks……
6:19 AM   Gold downside threat is over and is likely to gain as per mornig post…..
 7:15 AM   Moring view on gold and currencies intact…………….
 7:35 AM    GOLD @ $ 1314 = Waiting to buy around $ 1410-12…………..
8:10 AM     buy around 12 sl should be 07 0or 03 sl
8:21 AM     Buy around $ 1308-10. Stops $ 1303………….
 8:22 AM    sir i buy gold at 1311.50 what sl should be as i have buy is it ok sir
 8:23 AM    EURO @ 1.3486 = Prefered buying level around 1.3465………….
 8:24 AM    I alawys say say that in a rally enet with patience & do not rush. Anyway, wait for up move………..
 8:26 AM    GBP @ 1.5956 = Buy around 1.5940. Apply Stops if 1.5905-10 breaks.
9:33 AM    GBP @ 1.6015 = Prfer holding Cable by placing Stops around 1.5970…….
10:01 AM   GBP @ 1.6055 = Book your profit around 1.6055-65……..Cheers
10:08 AM    EURO @ 1.3510 – If you are long Euro book your profit and go Long around 1.3510-20…..by picking the top………..
Euro could potentiall fall if fails to break 1.3550
10:19 AM   gold holding buy
 10:23 AM   GOLD @ $ 1312 = If gold fails to break $ 1315-16, which looks difficult right now, suggest getting rid with small profit as I am expecting another dip to test new lows of the day…………….
 11:13 AM   GOLD @ $ 1313.25 = Suggest taking profit and wait for next direction..
12:49 PM    GOLD @ $ 1315 = Sell @ 1315-17. Stops $ 1320…………….
 12:53 PM    AUD @ 0.9530 = book your profit around 0.9530-40..Cheers
 1:44 PM     EURO @ 1.3467 = Book your profit around 1.3462-67…Cheers
1:49 PM     gold will make new low today where to book profit
 2:28 PM   GOLD @ $ 1313 = Book your profit around $ 1311-13……………Cheers
 2:45 PM   GOLD @ $ 1314 = Watch out, US stocks are down, gold could gain…………
3:02 PM    Gold could test $ 1300-02
Euro 1.3420-30
GBP 1.6000-10 Buy with stops 1.5965……….
End of another excellent. Great day. Cheers until tomorrow

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