Ikon Finance Daily Forex Analysis (November)
Posted: Fri Nov 01, 2013 5:05 am
November 1, 2013
Gold (spot) closed down on Thursday and made its intraday highof US$1342.95/ounce after setting intraday low of US$1318.96/ounce. Gold went down by 0.139% at US$1322.86/ounce.
Trading Strategy: Neutral
Sell on strength 1331-1342 targeting 1324-1318 and 1309-1301, upside breakage of 1364 will lead to 1374-1380. Buy on dips at 1318-1320 with strict stop loss below 13181 hourly closing targeting 1342-1354 and 1364-1374 break below 1318 will call for 1309-1301.
Silver (spot) closed down on Thursday made its intraday high of US$22.67/ounce after setting intraday low of US$21.74/ounce. Silver settled 3.353% down at US$21.90/ounce.
Trading Strategy: Neutral
Sell on Strength at 22.35-22.75 with stop above 23.40 targeting 21.65-21.45 and 21.20-20.95 and upside breakout of 23.40 will open the way to 23.75-24.20. Buyers can buy above 21.60-21.90 targeting 22.75-23.40 and 23.90 with risk below 21.60 hourly closing.
Crude futures (Oct 2013) on Thursday made an intraday high of US$97.01/bbl and made an intraday low of US$96.02/bbl and settled down by 0.372% at US$96.24/bbl on session close.
Trading Strategy: Neutral
Buy in between 96.05-95.00 with risk below 94.95 hourly closing targeting 98.20-98.70 and 99.60-100.20. Breakage below 94.95 will call for 94.10-93.00. Sell in between 96.90-98.70 with risk above 98.70 targeting 96.50-95.80 and 94.95 upside breakage of 98.70 will lead to 100.80-101.90 and 102.80.
EUR/USD on Wednesday made an intraday low of US$1.3694/EUR and made an intraday high of US$1.3784/EUR and settled the day down by 0.065% at US$1.3736/EUR on session close.
Trading Strategy: Neutral
Based on today’s market, buying above 1.3700 targeting 1.3800-1.3835 then 1.3910 and stop loss at four hour closing below 1.3650.
GBP/USD on Wednesday made an intraday low of US$1.5997/GBP and made an intraday high of US$1.6077/GBP and settled the day down by 0.063% at US$1.6034/GBP on session close.
Trading Strategy: Neutral
Based on today’s market, buying above 1.6000 targeting 1.6250-1.6305 with stop loss four hour closing below 1.6000 breakage below 1.6000 targeting 1.5900-1.5820. Selling can be done between 1.6160-1.6250 with risk above 1.6305 targeting 1.6100-1.6055 and 1.5950.
USD/JPY on Wednesday an intraday low of JPY98.04/USD and made an intraday high of JPY98.66/USD and settled the day 0.244% up at JPY98.43/USD on session close.
Trading Strategy: Neutral
Based on today’s market, sell below 98.30-98.90, using a stop loss of 99.90, targeting 96.80-96.30 and 95.60. Alternatively, a break above 100.00 might call for 100.80-101.20 and 101.80. Buy above 96.90-96.00, using a stop loss of below 95.70, targeting 97.50-98.50 and 98.90-99.90.
http://www.ikonfinance.com/
Gold (spot) closed down on Thursday and made its intraday highof US$1342.95/ounce after setting intraday low of US$1318.96/ounce. Gold went down by 0.139% at US$1322.86/ounce.
Trading Strategy: Neutral
Sell on strength 1331-1342 targeting 1324-1318 and 1309-1301, upside breakage of 1364 will lead to 1374-1380. Buy on dips at 1318-1320 with strict stop loss below 13181 hourly closing targeting 1342-1354 and 1364-1374 break below 1318 will call for 1309-1301.
Silver (spot) closed down on Thursday made its intraday high of US$22.67/ounce after setting intraday low of US$21.74/ounce. Silver settled 3.353% down at US$21.90/ounce.
Trading Strategy: Neutral
Sell on Strength at 22.35-22.75 with stop above 23.40 targeting 21.65-21.45 and 21.20-20.95 and upside breakout of 23.40 will open the way to 23.75-24.20. Buyers can buy above 21.60-21.90 targeting 22.75-23.40 and 23.90 with risk below 21.60 hourly closing.
Crude futures (Oct 2013) on Thursday made an intraday high of US$97.01/bbl and made an intraday low of US$96.02/bbl and settled down by 0.372% at US$96.24/bbl on session close.
Trading Strategy: Neutral
Buy in between 96.05-95.00 with risk below 94.95 hourly closing targeting 98.20-98.70 and 99.60-100.20. Breakage below 94.95 will call for 94.10-93.00. Sell in between 96.90-98.70 with risk above 98.70 targeting 96.50-95.80 and 94.95 upside breakage of 98.70 will lead to 100.80-101.90 and 102.80.
EUR/USD on Wednesday made an intraday low of US$1.3694/EUR and made an intraday high of US$1.3784/EUR and settled the day down by 0.065% at US$1.3736/EUR on session close.
Trading Strategy: Neutral
Based on today’s market, buying above 1.3700 targeting 1.3800-1.3835 then 1.3910 and stop loss at four hour closing below 1.3650.
GBP/USD on Wednesday made an intraday low of US$1.5997/GBP and made an intraday high of US$1.6077/GBP and settled the day down by 0.063% at US$1.6034/GBP on session close.
Trading Strategy: Neutral
Based on today’s market, buying above 1.6000 targeting 1.6250-1.6305 with stop loss four hour closing below 1.6000 breakage below 1.6000 targeting 1.5900-1.5820. Selling can be done between 1.6160-1.6250 with risk above 1.6305 targeting 1.6100-1.6055 and 1.5950.
USD/JPY on Wednesday an intraday low of JPY98.04/USD and made an intraday high of JPY98.66/USD and settled the day 0.244% up at JPY98.43/USD on session close.
Trading Strategy: Neutral
Based on today’s market, sell below 98.30-98.90, using a stop loss of 99.90, targeting 96.80-96.30 and 95.60. Alternatively, a break above 100.00 might call for 100.80-101.20 and 101.80. Buy above 96.90-96.00, using a stop loss of below 95.70, targeting 97.50-98.50 and 98.90-99.90.
http://www.ikonfinance.com/