June 3, 2013
Gold (spot) closed down on Friday made its intraday high of US$1,421.56/ounce after setting intraday low of US$1,384.75/ounce. Gold went down by 1.833% at US$1,387.35/ounce.
Trading Strategy: Neutral to Sell on Strength
Sell at strength at 1398-1408; targeting 1384-1379 and 1374-1363, upside breakage of 1421 will lead to 1428-1431 and 1441-1453. Buy on dips at 1379-1384 with strict stop loss below 1369 1-hourly closing; targeting 1396-1405 and 1414-1421; break below 1369 will call for 1361-1353 and 1346-1336.
Silver (spot) closed down Friday made its intraday high of US$22.91/ounce after setting intraday low of US$22.16/ounce. Silver settled 1.978% down at US$22.30/ounce.
Trading Strategy: Neutral
Might trade in the range of 22.10-23.20; upside penetration might call for 23.80, while a downward breakage might call for 21.80. Short positions at 22.50-22.95 with stop above 23.20; targeting 22.30-22.05 and 21.80-21.50, upside breakout of 23.30 will open the way to 23.80-24.20. Buyers can buy above 22.30-21.95, targeting 22.80-23.05 and 23.85-24.20 with risk below 21.80.
Crude futures (June 2013) on Friday made an intra‐day high of US$93.83/bbl and made an intraday low of US$91.55/bbl and settled down by 2.115% at US$91.62/bbl on session close.
Trading Strategy: Neutral
Based today’s market, we prefer to short oil below 92.60-93.50, targeting 92.60 and 91.50. Stop loss with four-hour closing above 94.10. Buy above 90.90-91.50, using a stop loss of 90.50, targeting 92.60-93.50 and 93.90-94.60.
EUR/USD on Friday made an intra‐day low of US$1.2943/EUR and made an intraday high of US$1.3058/EUR and settled the day 0.398% down at US$1.2995/EUR on session close.
Trading Strategy: Neutral
Based today’s market, selling the pair below 1.3060-1.3100 targeting 1.2910-1.2880 and 1.2740-1.2680 and stop-loss with four-hour closing at 1.3120 might be appropriate; whereas, buying can be done above 1.2910-1.2950 targeting 1.2950-1.3060 and 1.3120 and stop-loss with four-hour closing below 1.2880.
GBP/USD on Friday made an intra‐day low of US$1.5139/GBP and made an intraday high of US$1.5238/GBP and settled the day down by 0.236% at US$1.5195/GBP on session close.
Trading Strategy: Neutral
Based today’s market, in our opinion is buying can be done 1.5110-1.5160 targeting 1.5270-1.5330; stop-loss with four-hour closing below 1.5000; whereas, selling the pair below 1.5270-1.5330 targeting 1.5150-1.5110 and 1.5050-1.4990 with stop-loss at four-hour closing above 1.5400.
USD/JPY on Friday an intra‐day low of JPY100.21/USD and made an intraday high of JPY 101.27/USD and settled the day 0.258% down at JPY100.45/USD on session close.
Trading Strategy: Neutral
Based today’s market, in our opinion buying can be done 90.50-90.90 targeting 101.50-101.90 and 102.50-103.10 and stop-loss with four-hour closing below 98.90.
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