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US Dollar Looking Good as Sentiments Turns Positive – Jan 15

January 15, 2014

Inter–action with my Blog Subscribers……

 6:16 AM

GOLD @ $ 1241 = Prefer selling around $ 1243-45……Stops $ 1248

 6:58 AM   GOLD @ $ 1241.50 = I am narrowing my selling range in gold. Sell around $ 1241.50-44, as gold is struggling to move up……….
6:59 AM   Sorry, please read $ 1241.50-43………
 9:08 AM  GOLD @ $ 1237 = Book your profit around $ 1235-37…………..Cheers
9:24 AM   AUD @ 0.8990 = Do not go Long Aussie as it could still drift down to test 0.8965-70……
11:47 AM  Cheers on the Gold short Sir…  Thanks a lot
Next in gold whenever u have something?
 12:04 PM  I am confused. Are you still holding short @ $ 1242 and did not book profit or what else ?
 12:06 PM   Sir I already booked profit at 1236…
I was asking for next gold signal if you have any… thanks
12:06 PM  Pick top and sell around $ 1239-40. Stop Loss $ 1244
 12:29 PM  sir shall i hold short euro position 1.3644 or book profit here!!
12:36 PM  when not comfortable get rid of the position. Do not ask, as it may confuse others……………
1:33 PM  EURO @ 1.3588 = book your profit around 1.3582-88…….Cheers
 1:36 PM  GBP @ 1.638 = Ok If short in Pound book your profit around 1.6328-38 and go long on on dip Stop Loss 1.6280…………
2:58 PM  GOLD @ $ 1237 = Book your profit, as news about China allowing 2-banks to import gold could see some Gold buying.
Trend remains unchanged. View on Gold is Bearish………..
3:04 PM  Squaring squaring Cable position is preferred, as Dollar could make some more gains before Beige Book……
Time to say good bye. End of another excellent day.

===========

DAILY COMMENTARY

Fed officials did not show their reservations about the tapering plan. Lockhart had a mixed view, he probably wants improved job conditions and inflation to pick up though sounding optimistic about the growth prospects in USA. Similar opinion was viewed by Plosser, as he said the economy is on a “firmer footing” than few years back. Fisher too endorsed that the economy is making progress, both are FED voting members thus year. This is huge confidence that has been shown towards US economic recovery.
Earlier, market was trying to have feel about the release of Retail sales data, which was better than expectation that rose by 0.2 pct. Auto sales surging by 0.7 pct against 0.4 pct rise. Gradually the mood of the market is once gain turning Bullish, leaving aside the last weeks poor Payroll data.
In the absence on any major release of data from Europe, I think today’s FED Beige Book will give another feeler about the US economic condition as the report is gathered by 12-Fed Reserve Districts. This is  voting members an important report, which is combined and released after gathering views from economist and experts on economy. Sentiment is once gain gradually turning Bullish. US Bond Yields, Gold & JPY has reacted.
 
GOLD @ $ 1241 = Sell gold around $ 1241-44 levels. Stop Loss $ 1248. for test of $ 1233-35. Break will encourage or $ 1228.  Or else $ 1252.

GMT 3:34 – EURO @ 1.3631 = Euro move is in line of expectation, only break of 1.3650 risks for 1.3675. However, there is more downside risk 1.3580-90 is the support level that may hold or else 1.3550 will be challenged.
GMT 3:40 – GBP @ 1.6424 = A move beyond 1.6450 is required to test 1.6470-80 zones. However on the downside strong support is around 1.6380-90, break would encourage for a test of 1.6350-60 levels.
GMT 3:44 –  JPY @ 104.38 = Likely to hold around 104 levels for a gradual move towards 104.70-80 zone. Break of 103.70-80 risks for 103.50, which does not look a possibility.
GMT 3:48 – AUD @ 0.8922 = I am expecting support 0.8890-00 to hold for attest of 0.8950-60 zones, or else 0.8850-60 before up again.

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

Twitter @asadcmka………

 

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More Later…………………..

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