July 1, 2013
Gold (spot) closed up on Friday made its intraday high of US$1235.48/ounce after setting intraday low of US$1180.57/ounce. Gold went up by 2.82% at US$1234.53/ounce.
Trading Strategy: Neutral to Sell Strength
Sell at strength at 1248-1264; targeting 1230-1218 and 1205, upside breakage of 1270 will lead to 1284-1290 and 1305-1320. Buy on dips at 1218-1205 with strict stop loss below 1195 1-hourly closing; targeting 1248-1260 and 1274-1284; break below 1195 will call for 1170-1150.
Silver (spot) closed down on Friday made its intraday high of US$19.71/ounce after setting intraday low of US$18.22/ounce. Silver settled 6.03% up at US$19.68/ounce.
Trading Strategy: Neutral to Strength
Short positions at 19.90-20.30 with stop above 20.50; targeting 19.60-19.30 and 18.90-18.50, upside breakout of 20.50 will open the way to 21.30-21.90 and 22.50-22.90. Buyers can buy above 18.50-18.90, targeting 19.30-19.90 and 20.10-20.50 with risk below 17.90.
Crude futures (July 2013) on Friday made an intra‐day high of US$97.82/bbl and made an intraday low of US$93.65/bbl and settled down by 0.50% at US$96.56/bbl on session close.
Trading Strategy: Neutral
Based on today’s market, we prefer to short oil below 97.05-97.90, targeting 95.60-94.90 and 94.20-92.90. Stop loss with four-hour closing above 98.40. Buy above 92.20-92.90 targeting 93.60-94.90 and 95.70-97.05.
EUR/USD on Friday made an intra‐day low of US$1.2990/EUR and made an intraday high of US$1.3101/EUR and settled the day 0.214% down at US$1.3008/EUR on session close.
Trading Strategy: Neutral
Based on today’s market, selling the pair 1.3100-1.3190 with risk above 1.3250; targeting 1.3010-1.2950; whereas, buying can be done above 1.3000 targeting 1.3150-1.3240 and 1.3390 with stop-loss with four-hour closing below 1.2950.
GBP/USD on Friday made an intra‐day low of US$1.5164/GBP and made an intraday high of US$1.5278/GBP and settled the day down by 0.314% at US$1.5209/GBP on session close.
Trading Strategy: Neutral
Based on today’s market, sell below 1.5280-1.5305, targeting 1.5190-1.5105; alternatively, a break above 1.5090 might call for 1.5050—1.4950. Buying can be done 1.5105-1.5160 targeting 1.5250-1.5305; stop-loss with four-hour closing below 1.5050.
USD/JPY on Friday an intra‐day low of JPY98.32/USD and made an intraday high of JPY 99.44/USD and settled the day 0.803% up at JPY99.11/USD on session close.
Trading Strategy: Neutral
Based on today’s market, Buy above 98.50, using a stop loss of 97.20, targeting 99.80-100.50. Alternatively, break below 96.80 might call for 95.70.
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