IKON FINANCE Forex Analysis (August)
Posted: Thu Aug 01, 2013 6:21 am
August 1, 2013
Gold (spot) closed down on Wednesday made its intraday high of US$1,339.01/ounce after setting intraday low of US$1,305.74/ounce. Gold went down by 0.087% at US$1,324.69/ounce.
Trading Strategy: Neutral
Sell at strength at 1328-1338; targeting 1324-1316 and 1309-1301, upside breakage of 1347 will lead to 1352-1358 and 1364-1374. Buy on dips at 1303-1309 with strict stop loss below 1296 1-hourly closing; targeting 1328-1338 and 1346-1352; break below 1296 will call for 1292-1288 and 1282.
Silver (spot) closed up on Wednesday made its intraday high of US$20.13/ounce after setting intraday low of US$19.39/ounce. Silver settled 0.506% up at US$19.83/ounce.
Trading Strategy: Neutral
Short positions at 19.90-20.20 with stop above 20.80; targeting 19.70 and 19.40-19.10, upside breakout of 20.80 will open the way to 21.20-21.60. Buyers can buy above 19.10-19.50, targeting 20.30-20.60 and 20.80-21.30 with risk below 18.70.
Crude futures (July 2013) on Wednesday made an intra‐day high of US$105.40/bbl and made an intraday low of US$102.90/bbl and settled up by 2.104% at US$102.90/bbl on session close.
Trading Strategy: Neutral
Sell in-between 105.90-106.90 with risk above 107.50; targeting 104.50-103.90 and 102.90-101.90. Buy above 103.60-102.90 using a stop loss of 102.00, targeting 104.50-105.50 and 106.90-107.50.
EUR/USD on Wednesday made an intra‐day low of US$1.3208/EUR and made an intraday high of US$1.3343/EUR and settled the day 0.301% up at US$1.3301/EUR on session close.
Trading Strategy: Neutral
Based on today’s market, Buying the pair above 1.3230-1.3170 targeting 1.3240-1.3320 and 1.3410 with stop-loss with four-hour closing below 1.3120. Selling can 1.3270-1.3290 with risk above 1.3320; targeting 1.3170-1.3120 and 1.3005-1.2905; alternatively, break above 1.3320 might call for 1.3410-1.3490.
GBP/USD on Wednesday made an intra‐day low of US$1.5123/GBP and made an intraday high of US$1.5253/GBP and settled the day down by 0.203% at US$1.5204/GBP on session close.
Trading Strategy: Neutral
Based on today’s market, sell below 1.5190-1.5290, stop loss below 1.5305 targeting 1.5150 and 1.5070-1.4990. Buying can be done above 1.5120-1.5070 targeting 1.5240-1.5290 and 1.5360-1.5400; alternatively, a break below 1.5040 might call for 1.4980-1.4890.
USD/JPY on Wednesday an intra‐day low of JPY97.57/USD and made an intraday high of JPY 98.53/USD and settled the day 0.153% down at JPY98.53/USD on session close.
Trading Strategy: Neutral
Based on today’s market, sell below 98.90-99.30, using a stop loss of 100.20, targeting 97.20-96.75 and 95.70. Alternatively, a break above 100.20 might call for 100.50-101.20. Buy above 97.60-96.90, using a stop loss of below 96.50, targeting 98.50-99.25.
http://www.ikonfinance.com/
Gold (spot) closed down on Wednesday made its intraday high of US$1,339.01/ounce after setting intraday low of US$1,305.74/ounce. Gold went down by 0.087% at US$1,324.69/ounce.
Trading Strategy: Neutral
Sell at strength at 1328-1338; targeting 1324-1316 and 1309-1301, upside breakage of 1347 will lead to 1352-1358 and 1364-1374. Buy on dips at 1303-1309 with strict stop loss below 1296 1-hourly closing; targeting 1328-1338 and 1346-1352; break below 1296 will call for 1292-1288 and 1282.
Silver (spot) closed up on Wednesday made its intraday high of US$20.13/ounce after setting intraday low of US$19.39/ounce. Silver settled 0.506% up at US$19.83/ounce.
Trading Strategy: Neutral
Short positions at 19.90-20.20 with stop above 20.80; targeting 19.70 and 19.40-19.10, upside breakout of 20.80 will open the way to 21.20-21.60. Buyers can buy above 19.10-19.50, targeting 20.30-20.60 and 20.80-21.30 with risk below 18.70.
Crude futures (July 2013) on Wednesday made an intra‐day high of US$105.40/bbl and made an intraday low of US$102.90/bbl and settled up by 2.104% at US$102.90/bbl on session close.
Trading Strategy: Neutral
Sell in-between 105.90-106.90 with risk above 107.50; targeting 104.50-103.90 and 102.90-101.90. Buy above 103.60-102.90 using a stop loss of 102.00, targeting 104.50-105.50 and 106.90-107.50.
EUR/USD on Wednesday made an intra‐day low of US$1.3208/EUR and made an intraday high of US$1.3343/EUR and settled the day 0.301% up at US$1.3301/EUR on session close.
Trading Strategy: Neutral
Based on today’s market, Buying the pair above 1.3230-1.3170 targeting 1.3240-1.3320 and 1.3410 with stop-loss with four-hour closing below 1.3120. Selling can 1.3270-1.3290 with risk above 1.3320; targeting 1.3170-1.3120 and 1.3005-1.2905; alternatively, break above 1.3320 might call for 1.3410-1.3490.
GBP/USD on Wednesday made an intra‐day low of US$1.5123/GBP and made an intraday high of US$1.5253/GBP and settled the day down by 0.203% at US$1.5204/GBP on session close.
Trading Strategy: Neutral
Based on today’s market, sell below 1.5190-1.5290, stop loss below 1.5305 targeting 1.5150 and 1.5070-1.4990. Buying can be done above 1.5120-1.5070 targeting 1.5240-1.5290 and 1.5360-1.5400; alternatively, a break below 1.5040 might call for 1.4980-1.4890.
USD/JPY on Wednesday an intra‐day low of JPY97.57/USD and made an intraday high of JPY 98.53/USD and settled the day 0.153% down at JPY98.53/USD on session close.
Trading Strategy: Neutral
Based on today’s market, sell below 98.90-99.30, using a stop loss of 100.20, targeting 97.20-96.75 and 95.70. Alternatively, a break above 100.20 might call for 100.50-101.20. Buy above 97.60-96.90, using a stop loss of below 96.50, targeting 98.50-99.25.
http://www.ikonfinance.com/