Today’s NFP Data Has A Role For Future FED Direction – Jan 10

Inter–action with my Blog Subscribers……

 

6:01 AM   GOLD @ $ 1237 = Pick top to sell Stop Loss $ 1242………
9:33 AM   Buy GBP around 1.6400-10. stops 1.6370……………
9:34 AM  GOLD @ $ 1231 = book your profit around $ 1228-31…………………..Cheers
9:38 AM  AUD @ 0.8892 = Buy around 0.8875. Stops 0.8840…….
 9:43 AM  bought at 1.6407 gbp
12:28 PM  hi all, i would suggest closing all positions before NFP data…….
1:32 PM  GOLD:
Sir, Data is 74K
Should go Long or go Short ? OR wait for your call ?
1:33 PM  Ideally Sell JPY below 103.80 Stops loss 103.10………………
1:36 PM  Gold may hold $ 1232-34 for test of $ 1248-50…………
worth taking risk below $ 1240………..
 1:37 PM   Nothing to add, i have already said keep a watch on morning break out levels……….
 1:44 PM   Two important points is that Payroll is down due to weather condition and 6.7 pct means it is close to FED 2015 target of 6.5 pct. Still too tricky……..
 1:49 PM   range about gbp?
1:50 PM
EURO  1.3580- 1.3690
GBP 1.6410 – 1.6510
JPY 103.90 – 104.80
$ 1232 – $ 1250
 1:58 PM
Market is still very confused and unsure about the direction. I would suggest caution and applying Stop Loss.\
Sorry I have to leave early today.
Cheers until next week

 

 

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DAILY COMMENTARY

 

 

After listening to Draghi’s press conference, Europe is clearly not out of woods. Germany’s growth pace is not enough to counter Euro-zone problems that may have softened temporarily, but could re-emerge, as there are plenty of risk factors that cannot be ignored. Deflation is the biggest threat that is looming over the Euro-zone region and this is why there was a minor shift in ECB stance, as its President was sounding more Dovish. He clearly hinted that if the trend continues ECB will have to use all the allowed available monetary tools.

The story is different in USA. If we try to keep a track of recent release of US economic data, it clearly indicates that the economy is growing at a much healthier pace. ADP data released this week that covers activity in the private sector was encouraging hinting good growth, which means better job condition in USA. Similarly data of manufacturing and service sector industry is also supportive. It all point to another improved economic condition in USA. Hence, today’s US job data should not disappoint the Bulls, as yesterday’s initial jobless claims was another good proof of improving job market in USA.

GMT 3:06 – GOLD @ $ 1235 = Sell around $ 1236-38, with Stop loss $ 1242. for test of $ 1227-30 zones.

On a bigger note Needs to fall below $ 1215 for break of $ 1202 for $ 1192. While move beyond $ 1248 risks for a test of $ 1255-60 levels.

GMT 3:16 – EURO @ 1.3512 = Euro could potentially move towards 1.3535-50 zones before data and should hold above 1.3570. However move beyond 1.3680-90 would risk for sharp gains towards 1.38 zones. Similarly 1.3510-20 is the key level on the downside, break will threaten to test 1.3450.

GMT 3:20 – GBP @ 1.6477 = Bullish sentiment for Pound Sterling is intact and during early Euro may hold above 1.6440 and 1.6410 should not surrender for a move towards 1.6490 or 1.6510. On the downside, unless 1.6310-20 surrender, buy on dips is preferred.

GMT 3:29 – JPY @ 104.90 = is currently too dependent on Japanese stock market moves, as it awaits for more stimulus package. Unless 105.30-35 zones is cleared there is risk for Japanese currency making more gains. Break of 104.55 risk for a test of 10410-20 zones or possibly 103.80-90 levels before easing.  However, break of support level may challenge 105.80 for 106.40.

GMT 3:32 – AUD @ 0.8903 = Aussie is required to surpass 0.8925-30 levels for a visit to 0.8950-60 zones or else 0.8880-85.

 

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

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