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Gold To Make More Gains Before Down Again – Jan 03

January 3, 2014

Inter–action with my Blog Subscribers……

 

3:00 AM  AUD @ 0.8916 = Patience is required to pick top around 0.8930-50 zones, as only break of 0.8980-90 could threaten for more Aussie gain. However profit should be taken around 0.8880-90 levels.
 3:38 AM   Wait to sell Aud around 0.8950-60 levels………………..
4:45 AM   AUD @ 0.8968 = Ok now AUD is looking a good sell around 0.8968-75, with Stops 0.8998…..
 6:10 AM
Dear Sir,
Your Forecast/Anylysis for the Year 2013 has been excellent and I have made enough money, hope other have also done the same. Also I hope that the Year 2014 will bring more profit for me and all the members here in this Blog.
Wishing you and all the members here a “VERY HAPPY AND A PROSPEROUS NEW YEAR 2014”.
Warm Regards
 6:48 AM   GOLD @ $ 1236 = Book your profit around $ 1236-38 Cheers…………..
 7:16 AM    GBP @ 1.6440 = Cable could hold 1.6410 for a test of 1.6470-80 zones.
7:42 AM   GOLD @$ 1232 = OK, If you went short around $ 1237-40 Book your profit around $ 1230-32 & Long around or below $ 1230 with Stops $ 1224……………Cheers
8:13 AM    sir view abt aud same!!
8:55 AM    EURO @ 1.3635 = Euro dip dip to test below 1.3310-10 zones…..
9:15 AM    gold buy at cmp is prefered n sl 24
9:17 AM    AUD @ 0.8980 = No, there is risk that if AUD hod above 0.8960-65, we see a test of 0.9010-15 zones. Suggest getting rid if Short……..
9:24 AM   GOLD @ $ 1230 = Buy around $ 1228………
 9:33 AM   GBP @ 1.6440 = I see strong UK data 1.6410 should hold for 1.6470-80. No change from previous view…………..
10:20 AM   sir shall go short euro now for 1.3610!!
10:21 AM   No, we have missed the opportunity in Euro, we are in the middle of the range now…….
 10:24 AM   JPY @ 104.36 = Hold your JPY sale around 104.10 and apply selling levels as Stop Loss.More later…………..
 11:02 AM   GBP @ 1.6473 = Book your profit around 1.6473-80…..Cheers
12:52 PM   JPY @ 104.51 = Book your profit around 104.51-57…….Cheers
 1:05 PM   sir what abt gbp now!!
1:09 PM   GBP could dip to test 1.6380-90…………..
1:11 PM   sir gold view same buy 1228 with stops 1224??
1:11 PM     if $ 1227 holds…………….
1:49 PM    holding gold buy sir around 1228 ok sir
2:58 PM   GOLD @ $ 1234 = Book your profit around $ 1234-36….cheers
 3:02 PM   Ok pals, end of a perfect day though few opportunities were missed out, but it is not possible to hop in to every opportunity……….
Have a nice weekend……………..

 

Daily Commentary 

 

We are still  trading in immature market as traders are not back from holidays until next week or week after next. Therefore, market will remain choppy and direction-less. This is one of the reason that the market moves are not based economic and fundamental happenings and is dominated by liquid traders having large trading limits.

China’s manufacturing data shows that the economy continues to struggle to maintain its growth pace, as stocks fell, but it did not benefit US Dollar in real sense and instead gold soared that heavily depends on Chinese physical buying. Aussie prone to Chinese data instead made gains. Healthy European PMI data did not support Euro and the European currency took the bashing. In USA, ISM data fell, but it did not hurt US Dollar. The point is that market may take another week to 10-days to settle down.
GMT 2:27 – GOLD @ $ 1231 = is a buy around $ 1225-28 levels, as break of $ 1220-21 is required for further sell-off, which may not happen in Asia/Europe and is likely to test of $ 1237-40 zones, for a final assault at $ 1250 or may exhaust if fails to surpass $ 1245-46. Else gold will take another dip to test day’s low.
GMT 2:48 – EURO @ 1.3653 = Minor fall towards 1.3625-35 is possible, but Euro should find buying interest, as 1.3585 is likely to get protection for a test of 1.3690-95 zones. Any upside move should be find resistance around 1.3710-15 zones.
GMT 2:52 – GBP @ 1.6425 = GBP is surely under pressure and may find hard to move beyond 1.6450-60 levels. Break of 1.6390-95 is required for more losses that could extend up to 1.6360-65 zones. Or else 1.6480.
GMT – 2:57 – JPY @ 104.27 = I have frequently warned that Yen after 100 pip down move will become ripe for correction and this trend would continue, as there may be some exceptions. However, the the pressure for more gains would ease as it nears 104.00-10 and could be considered as safe sell as long as 103.50-70 zones hold for another move towards 104.90-95 zones.
GMT – AUD @ 0.8916 = Patience is required to pick top around 0.8930-50 zones, as only break of 0.8980-90 could threaten for more Aussie gain. However profit should be taken around 0.8880-90 levels.

Dec 11 -Gold 2014 Target  Break of $ 1000 for $ 800.

Twitter @asadcmka………

 

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More Later…………………..

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