Ikon Finance Forex Analysis (April)

Ikon Finance Forex Analysis (April)

Postby Ajawed » Mon Apr 01, 2013 6:58 am

April 1, 2013

Gold (spot) closed down on Friday made its intraday high of US$1,597.50/ounce after setting intraday low of US$1,596.50/ounce. Gold went down by 0.03% at US$1,596.65/ounce.

Silver (spot) closed up on Friday made its intraday high of US$28.35/ ounce after setting intraday low of US$28.31/ounce. Silver settled 0.105% up at US$28.35/ounce.

Crude futures (May 2013) on Friday made an intra‐day high of US$97.34/bbl and made an intraday low of US$96.25/bbl and settled up by 0.517% at US$97.13/bbl on session close.

EUR/USD on Friday made an intra‐day low of US$ 1.2771/EUR and made an intraday high of US$1.2837/EUR and settled the day 0.031% up at US$1.2821/EUR on session close.

GBP/USD on Friday made an intra‐day low of US$1.5177/GBP and made an intraday high of US$1.5220/GBP and settled the day down by 0.04% at US$1.5189/GBP on session close.

USD/JPY on Friday an intra‐day low of JPY93.93/USD and made an intraday high of JPY 94.31/USD and settled the day 0.093% up at JPY94.23/USD on session close.

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Re: Ikon Finance Forex Analysis (April)

Postby Ajawed » Tue Apr 02, 2013 6:26 am

April 2, 2013

U.S. stocks started the week in negative territory as weaker manufacturing data weighed on the equities, sending the Dow 6 points lower, while the S&P 500 and the NASDAQ lost 0.46 percent and 0.87 percent, respectively.

As is known, stocks posted substantial gains last week in the wake of encouraging fundamental data and ongoing dovish stance of Fed on monetary policy, sending the S&P 500 up to 1,569 mark, highest level ever. However, ISM factory index fell to 51.3 in March from 54.2 a month earlier, disappointing investors. On the other hand, construction spending came in better than expectations, offsetting weaker manufacturing data.

On the corporate front, Alcoa Inc., the largest U.S. aluminum maker, lost 1.5 percent to $8.39. J.C. Penney Co. tumbled 2.1 percent to $14.80. Hewlett-Packard Co. slumped 2.2 percent to $23.31 and Intel sank 1.9 percent for the biggest declines in the Dow.

On the global markets' side, the Bank of Japan's Tankan index revealed bleak horizon among large manufacturers and data on South Korean exports and China factory output trailed earlier estimates, while European markets closed.

Despite losing ground vs. the yen, the common currency advanced against the buck as disappointing manufacturing data in the U.S. dampened market confidence on the dollar, spurring investors to liquidate short positions on the euro. The euro increased 0.2 percent to $1.2849 after losing earlier as much as 0.4 percent.

Crude oil for May delivery edged down 16 cents, or 0.2%, to settle at $97.07 a barrel on the New York Mercantile Exchange despite weakening dollar as downbeat ISM manufacturing data spooked investors on demand worries.

Given weak economic data in the U.S., gold Gold for June delivery climbed $5.20, or 0.3%, to settle at $1,600.90 an ounce on the Comex division of the New York Mercantile Exchange as investors flocked towards precious metal as safe haven.

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Re: Ikon Finance Forex Analysis (April)

Postby Ajawed » Wed Apr 03, 2013 7:40 am

April 3, 2013

Gold (spot) closed down on Tuesday made its intraday high of US$1,604.00/ounce after setting intraday low of US$1,593.90/ounce. Gold went down by 1.48% at US$1,575.80/ounce.

Silver (spot) closed down on Tuesday made its intraday high of US$28.19/ ounce after setting intraday low of US$27.20/ounce. Silver settled 2.68% down at US$27.29/ounce.

Crude futures (May 2013) on Tuesday made an intra‐day high of US$97.44/bbl and made an intraday low of US$95.91/bbl and settled up by 0.12% at US$97.19/bbl on session close.

EUR/USD on Tuesday made an intra‐day low of US$ 1.2808/EUR and made an intraday high of US$1.2877/EUR and settled the day 0.210% up at US$1.2821/EUR on session close.

GBP/USD on Tuesday made an intra‐day low of US$1.5098/GBP and made an intraday high of US$1.5258/GBP and settled the day down by 0.827% at US$1.5102/GBP on session close.

USD/JPY on Tuesday an intra‐day low of JPY92.56/USD and made an intraday high of JPY 93.56/USD and settled the day 0.214% down at JPY93.44/USD on session close.

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Re: Ikon Finance Forex Analysis (April)

Postby Ajawed » Thu Apr 04, 2013 6:10 am

April 4, 2013

Given bleak ISM services and ADP employment report, U.S. stocks sank yesterday amid concern that U.S. economy is slowing down, sending the Dow 112 points lower, while the S&P 500 and the NASDAQ slumped 1.03 percent and 1.10 percent, respectively.

Indeed, after weaker housing and manufacturing data, ISM non-manufacturing PMI fell to 54.4 from 56.0 previous month, dampening market mood. Meanwhile, ADP non-farm employment change unexpectedly retreated 158K vs. 203K estimated, raising concerns over sustainable recovery ahead of all important employment situation due Friday. However, SF Fed President said that QE3 could shrink this summer, deteriorating upbeat horizon further.

On the corporate front, Exxon Mobil Corp. tumbled 0.7 percent to $89.93 and Chevron Corp. fell 1 percent to $117.78. Bank of America sank 2.8 percent to $11.81. Morgan Stanley slumped 2.7 percent to $21.11. JPMorgan Chase & Co. dived 2.4 percent to $46.85.

European stocks lost the most in five weeks, paring Tuesday's biggest rally in almost a month as worse than expected U.S. economic fundamentals fueled equity selling across the board. The benchmark Stoxx Europe 600 Index edged down 0.9 percent to 294.8 at the close of trading.

The dollar weakened against the euro as reports on U.S. service industries and employment report dampened market mood on the buck despite ongoing problems in the euro zone. The euro gained 0.2 percent to 1.2850 per dollar.

Crude for May delivery lost $2.74, or 2.8%, to settle at $94.45 a barrel on the New York Mercantile Exchange, lowest close since March 22. Gloomy ISM non-manufacturing data and bleak private sector employment figures triggered oil selling on resurging fears over sustainable energy demand.

June gold plunged $22.40, or 1.4%, to settle at $1,553.50 an ounce on the Comex division of the New York Mercantile Exchange. That was the lowest settlement since June 28. Hawkish remarks of Fed members spurred investors to sell precious metal as the Fed could phase out its dovish stance in 2013.

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Re: Ikon Finance Forex Analysis (April)

Postby Ajawed » Fri Apr 05, 2013 7:35 am

April 5, 2013

Gold (spot) closed down on Thursday made its intraday high of US$1,559.57/ounce after setting intraday low of US$1,539.95/ounce. Gold went down by 0.207% at US$1,554.59/ounce.

Silver (spot) closed down on Thursday made its intraday high of US$27.06/ ounce before setting intraday low of US$26.63/ounce. Silver settled 0.11% down at US$26.93/ounce.

Crude futures (May 2013) on Thursday made an intra‐day high of US$94.82/bbl and made an intraday low of US$92.13/bbl and settled down by 1.21% at US$93.34/bbl on session close.

EUR/USD on Thursday made an intra‐day low of US$ 1.2744/EUR and made an intraday high of US$1.2948/EUR and settled the day 0.667% up at US$1.2933/EUR on session close.

GBP/USD on Thursday made an intra‐day low of US$1.5032/GBP and made an intraday high of US$1.5244/GBP and settled the day up by 0.662% at US$1.5231/GBP on session close.

USD/JPY on Thursday an intra‐day low of JPY92.71/USD and made an intraday high of JPY 93.69/USD and settled the day 0.417% down at JPY93.04/USD on session close.

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Re: Ikon Finance Forex Analysis (April)

Postby Ajawed » Fri Apr 05, 2013 7:51 am

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Keep appraised of all our future competitions and our generous bonus offers through our website (http://www.ikonfinance.com/) or receive updates through our social media links (Facebook, Twitter, Linkedin).

Finally we would like to say a big thank you to all of the contest participants, and a big congratulations to our winners!

We hope that they all enjoyed the contest and many more will join us for our next one!!!

Best of luck and happy trading for the future!
Ajawed
 
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Re: Ikon Finance Forex Analysis (April)

Postby Ajawed » Mon Apr 08, 2013 7:32 am

April 8, 2013

Gold (spot) closed up on Friday made its intraday high of US$1,580.90/ounce after setting intraday low of US$1,539.95/ounce. Gold went up by 1.76% at US$1,580.60/ounce.

Silver (spot) closed up on Friday made its intraday high of US$27.35/ ounce before setting intraday low of US$26.79/ounce. Silver settled 1.38% up at US$27.33/ounce.

Crude futures (May 2013) on Friday made an intra‐day high of US$93.57/bbl and made an intraday low of US$91.90/bbl and settled down by 0.60% at US$92.70/bbl on session close.

EUR/USD on Friday made an intra‐day low of US$ 1.2889/EUR and made an intraday high of US$1.3038/EUR and settled the day 0.409% up at US$1.2988/EUR on session close.

GBP/USD on Friday made an intra‐day low of US$1.5192/GBP and made an intraday high of US$1.5362/GBP and settled the day up by 0.669% at US$1.5337/GBP on session close.

USD/JPY on Friday an intra‐day low of JPY95.73/USD and made an intraday high of JPY 97.28/USD and settled the day 1.25% up at JPY97.53/USD on session close.

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Re: Ikon Finance Forex Analysis (April)

Postby Ajawed » Tue Apr 09, 2013 7:53 am

April 9, 2013

Gold (spot) closed up on Monday made its intraday high of US$1,580.74/ounce after setting intraday low of US$1,567.19/ounce. Gold went down by 0.329% at US$1,571.97/ounce.

Silver (spot) closed up on Monday made its intraday high of US$27.37/ ounce before setting intraday low of US$27.13/ounce. Silver settled 0.219% down at US$27.25/ounce.

Crude futures (May 2013) on Monday made an intra‐day high of US$93.74/bbl and made an intraday low of US$92.46/bbl and settled up by 0.667% at US$93.47/bbl on session close.

EUR/USD on Monday made an intra‐day low of US$ 1.2968/EUR and made an intraday high of US$1.3037/EUR and settled the day 0.3%up at US$1.3029/EUR on session close.

GBP/USD on Monday made an intra‐day low of US$1.5238/GBP and made an intraday high of US$1.5350/GBP and settled the day down by 0.553% at US$1.5263/GBP on session close.

USD/JPY on Monday an intra‐day low of JPY98.29/USD and made an intraday high of JPY 99.66/USD and settled the day 0.55% up at JPY99.32/USD on session close.

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Re: Ikon Finance Forex Analysis (April)

Postby Ajawed » Wed Apr 10, 2013 7:11 am

April 10, 2013

Gold (spot) closed up on Tuesday made its intraday high of US$1,590.41/ounce after setting intraday low of US$1,570.45/ounce. Gold went up by 0.76% at US$1,585.35/ounce.

Silver (spot) closed up on Tuesday made its intraday high of US$28.08/ ounce before setting intraday low of US$27.21/ounce. Silver settled 2.49% up at US$27.99/ounce.

Crude futures (May 2013) on Tuesday made an intra‐day high of US$94.48/bbl and made an intraday low of US$92.86/bbl and settled up by 0.90% at US$94.20/bbl on session close.

EUR/USD on Tuesday made an intra‐day low of US$ 1.3004/EUR and made an intraday high of US$1.3102/EUR and settled the day 0.568% up at US$1.3081/EUR on session close.

GBP/USD on Tuesday made an intra‐day low of US$1.5249/GBP and made an intraday high of US$1.5340/GBP and settled the day up by 0.432% at US$1.5320/GBP on session close.

USD/JPY on Tuesday an intra‐day low of JPY98.57/USD and made an intraday high of JPY 99.65/USD and settled the day 0.332% down at JPY99.01/USD on session close.

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Re: Ikon Finance Forex Analysis (April)

Postby Ajawed » Mon Apr 15, 2013 7:29 am

April 15, 2013

Gold (spot) closed down on Friday made its intraday high of US$1,564.73/ounce after setting intraday low of US$1,482.06/ounce. Gold went down by 5.04% at US$1,482.06/ounce.
Trading Strategy: Neutral to Negative
Sell at strength at 1469-1484; targeting 1430-1400 and 1390-1375, upside breakage of 1490 will lead to 1505-1520 and 1530-1550. Buy on dips at 1424-1400 with strict stop loss below 1390 4-hourly closing; targeting 1460-1480 and 1490-1520.


Silver (spot) closed down on Friday made its intraday high of US$27.72/ ounce before setting intraday low of US$25.95/ounce. Silver settled 5.97% down at US$26.00/ounce.
Trading Strategy: Neutral to Negative
SHORT positions at 24.75-24.95 with stop above 25.40; targeting 24.25-23.70, upside breakout of 25.9-26.0 will open the way to 26.50-26.90. Buyers can buy in 24.20-23.90 with risk below 23.70 hourly closing, targeting 24.75-24.90 and 25.40-25.70.


Crude futures (May 2013) on Friday made an intra‐day high of US$93.53/bbl and made an intraday low of US$90.27/bbl and settled down by 2.37% at US$91.29/bbl on session close.
Trading Strategy: Neutral
Today, sell in above 90.40-91.20 with risk above 92.60 (4-hourly Closing); targeting 88.80-87.30.


EUR/USD on Friday made an intra‐day low of US$ 1.3098/EUR and made an intraday high of US$1.3126/EUR and settled the day 0.083% up at US$1.3109/EUR on session close.
Trading Strategy: Neutral
Based on the charts and explanations above, buying the pair above 1.3040-1.2970 targeting 1.3110-1.3170 and then 1.3245 and stop-loss with four-hour closing below 1.2885.


GBP/USD on Friday made an intra‐day low of US$1.5337/GBP and made an intraday high of US$1.5408/GBP and settled the day down by 0.292% at US$1.5338/GBP on session close.
Trading Strategy: Neutral
Based on the charts and explanations above, our opinion is selling the pair below 1.5340-1.5390 targeting 1.5310, 1.5280 then 1.5225 and stop-loss with four-hour closing above 1.5415. Buying the pair above 1.5240-1.5270 targeting 1.5500 and stop-loss with four-hour closing below 1.5180.


USD/JPY on Friday an intra‐day low of JPY98.08/USD and made an intraday high of JPY 99.79/USD and settled the day 1.282% down at JPY98.38/USD on session close.
Trading Strategy: Neutral
Based on the charts and explanations above, buying the pair above 98.40 targeting 98.90-99.50 then 100.30 and stop-loss with four-hour closing below 97.10. Sell Below 99.90 with stop above 100.10; targeting 99.50-98.50 breakage above 100.10 will lead to further upside towards 100.50-101.30.

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