May 16, 2013
Gold (spot)closed downonWednesdaymade its intraday highof US$1,430.89/ounce beforesetting intraday low of US$1,389.48/ounce. Gold went down by2.28%at US$1,393.03/ounce
Trading Strategy: Neutral to Sell on Strength
Sell at strength at 1398-1411; targeting 1385-1374 and 1380, upside breakage of 1420 will lead to1434-1445 and 1454-1464. Buy on dips at 1374-1382with strict stop loss below 13671-hourly closing; targeting 1398-1411 and 1420-1436.
Silver (spot) closed downon Wednesdaymade its intraday highof US$23.50/ounceaftersetting intraday lowof US$22.52/ounce. Silver settled 3.47%downat US$22.60/ounce.
Trading Strategy: Neutral
Short positions at 22.90-23.65with stop above 24.05; targeting 22.30-21.90, upside breakout of 24.05will open the way to24.25-24.60 and 24.90-25.10.Buyers can buy above 21.90,targeting 22.70-23.05 and 23.65-24.25.
Crude futures (June 2013) on Wednesday made an intra‐day high of US$94.44/bbl and made an intraday low of US$92.12/bbl and settled up by 0.10%at US$94.30/bbl on session close.
Trading Strategy: Neutral to Sell
Based on today’s market, we prefer to short oil below 94.40-95.70, targeting 93.80-93.10. Stop loss with four-hour closing above 97.05.
EUR/USD on Wednesday made an intra‐day low ofUS$1.2842/EUR and made an intraday high of US$1.2941/EUR and settled the day 0.255%downat US$1.2885/EUR on session close.
Trading Strategy: Neutral
Based on today’s market, selling the pair below 1.2920-1.2960 targeting 1.2870-1.2800 and stop-loss with four-hour closing at 1.3155 might be appropriate; whereas, buying can be done above 1.2800-1.2840 targeting 1.3060-1.3120 and 1.3170-1.3190and stop-loss with four-hour closing below 1.2740.
GBP/USD on Wednesday made an intra‐day low of US$1.5207/GBP and made an intraday high of US$1.5271/GBP and settled the day upby0.157% at US$1.5231/GBP on session close.
Trading Strategy: Neutral
Based on today’s market, our opinion is can be done 1.5200-1.5150 targeting 1.5270-1.5350 and 1.5410; stop-loss with four-hour closing below 1.5100; whereas, selling the pair below 1.5270-1.5350 targeting 1.5190-1.5150 and stop-loss at four-hour closing above 1.5410.
USD/JPY on Wednesday an intra‐day low of JPY101.85/USD and made an intraday high of JPY102.75/USD and settled the day 0.014% down at JPY102.22/USD on session close.
Trading Strategy: Neutral
Based on today’s market, buying the pair 101.30-101.50targeting 102.50-103.10and stop-loss with four-hour closing below 99.80.
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