May 1, 2013
Gold (spot) closed up on Tuesday made its intraday high of US$1,479.94/ounce after setting intraday low of US$1,460.94/ounce. Gold went down by 0.031% at US$1,476.10/ounce.
Trading Strategy: Neutral
Spot gold remains neutral in a range of 1,448-1,485 per ounce; a rise above 1,485 will confirm the continuation of the uptrend towards a target at 1,504, and downside below 1448 will lead to gold toward 1420-1380. Sell at strength at 1479-1486; targeting 1464-1458 and 1454-1446, upside breakage of 1489 will lead to 1500-1525. Buy on dips at 1452-1462 with strict stop loss below 1448 1-hourly closing; targeting 1474-1480 and 1487-1494.
Silver (spot) closed down on Tuesday made its intraday high of US$24.55/ ounce before setting intraday low of US$24.04/ounce. Silver settled 0.936% down at US$24.32/ounce.
Trading Strategy: Neutral
Short positions at 24.25-24.80 with stop above 25.00; targeting 23.90-23.65 and 23.30, upside breakout of 24.90 will open the way to 25.10-25.90. Buyers can buy in 23.55-23.95 with risk below 23.20 hourly closing, targeting 24.25-24.55 and 24.90-25.10.
Crude futures (May 2013) on Tuesday made an intra‐day high of US$94.60/bbl and made an intraday low of US$92.85/bbl and settled down by 1.40% at US$93.05/bbl on session close.
Trading Strategy: Neutral
Based on today’s market, Sell below 93.90 / Buy above 93.90.
EUR/USD on Tuesday made an intra‐day low of US$ 1.3096/EUR and made an intraday high of US$1.3185/EUR and settled the day 0.534% up at US$1.3166/EUR on session close.
Trading Strategy: Neutral
Based on today’s market,, buying the pair above 1.3030-1.3090 targeting 1.3170-1.3190 and 1.3230-1.3260 and stop-loss with four-hour closing below 1.2930. Sell below 1.3190, with risk above 1.3230; targeting 1.3140-1.3050 and 1.2980.
GBP/USD on Tuesday made an intra‐day low of US$1.5498/GBP and made an intraday high of US$1.5498/GBP and settled the day up by 0.206% at US$1.5530/GBP on session close.
Trading Strategy: Neutral
Based on today’s market, our opinion is selling the pair in below 1.5590; targeting 1.5510-1.5450 and 1.5385-1.5310. Buying can be done 1.5385-1.5410 targeting 1.5540 and 1.5590; stop-loss with four-hour closing below 1.5300.
USD/JPY on Tuesday an intra‐day low of JPY96.99/USD and made an intraday high of JPY 98.11/USD and settled the day 0.327% down at JPY97.41/USD on session close.
Trading Strategy: Neutral
Based on today’s market, it might trade in the range of 97.00-98.30. An upward penetration 98.30 might call for 99.00, while a downside breakage of 97.00 might call for 96.30. Selling can be done below 98.15-98.85 targeting 96.95-96.10 stop-loss with four-hour closing above 99.00.
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