Ikon Finance Daily Forex Analysis (March)

Re: Ikon Finance Daily Forex Analysis (March)

Postby Ajawed » Mon Mar 31, 2014 6:54 am

March 31, 2014

Gold closed up on and made its intraday high of US$1298.56/ounce a before setting intraday low of US$1285.41/ounce. Gold went down by 0.300% at US$1294.62/ ounce.
Trading Strategy: Neutral
Based on today’s market, Sell below 1306-1316 with risk hourly closing above 1324, targeting 1290-1282 and 1272; break above 1324 will call for 1334-1344 and 1354. Buy above 1286 strict stop loss below 1286 hourly closing; targeting 1305-1311 and 1324-1330. Breakage below 1286 will call for 1280-1272.


Silver closed up on Friday made its intraday high of US$19.91/ounce after setting intraday low of US$19.61/ounce. Silver settled 0.558% up at US$19.81/ounce.
Trading Strategy: Neutral
Based on today’s market, sell on strength at 19.90-20.35 with stop above 20.60; targeting 19.65; upside breakout of 20.60 will open the way to 20.90-21.50 and 22.05-22.25. Buyers can buy above 19.70-19.30 targeting 20.10- 20.30 and 20.60-20.95 with risk below 18.70 hourly closing.


Crude futures (April 2014) on Friday made an intra-day high of US$102.61/bbl and made an intraday low of US$101.16/bbl and settled up by 0.246% at US$101.57/bbl on session close.
Trading Strategy: Neutral
Based on today’s market, sell below 101.90-102.90 with target of 101.00-100.20 and 99.80-98.90; upside breakage of 102.90 will lead to 103.40- 104.20. Buy above 101.00-99.80, targeting 101.90-102.90; stop loss 1-hour below 99.20. Breakage below 99.20 will call for 98.80-97.20 and 96.60.


EUR/USD on Friday made an intra-day low of US$1.3703/EUR and made an intraday high of US$1.3773/EUR and settled the day up by 0.064% at US$1.3749/EUR on session close.
Trading Strategy: Neutral
Based on today’s market, buy on dips in between 1.3740- 1.3650 with risk below 1.3650, targeting 1.3830-1.3900. Sell below 1.3810-1.3920 targeting 1.3750-1.3660 and 1.3550 and stop-loss at 4-hour closing above 1.3920.


GBP/USD on Friday made an intra-day low of US$1.6595/GBP and made an intraday high of US$1.6651/GBP and settled the day up by 0.180% at US$1.6637/ GBP on session close.
Trading Strategy: Neutral
Based on today’s market; sell below 1.6660-1.6740 with risk above 1.6820; targeting 1.6500-1.6480 and 1.6390. Buy above 1.6560-1.6480 with risk above 1.6380; targeting 1.6660-1.6740 and 1.6820.


USD/JPY on Friday an intra-day low of JPY102.00/USD and made an intraday high of JPY 102.98/USD and settled the day 0.629% down at JPY 102.80/USD on session close.
Trading Strategy: Neutral
Based on today’s market; Buy on dips around 102.10- 101.20, using a stop loss of below 100.00; targeting 102.10-102.50 and 103.90-104.90. Sell below 102.90-103.90, targeting 101.50-100.00 with stop above 103.90.


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Ajawed
 
Posts: 328
Joined: Tue Jan 22, 2013 4:22 am

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