Asad Rizvi
DISCLAMER : The commentary/information presented is not intended for trading purpose. The idea is to exchange views with the members/readers. Therefore, I accept no responsibility or liability for any losses incurred due to position taking.
Sentiment was mixed on Thursday, as tighter liquidity condition in China was painful for most of the the Asian stock market. Though better HSBC manufacturing purchase index data provided some relief improving overall market opinion and hinting revival of Chinese economy. It did help to halt Aussie slide, which made gains, but the rise fizzed out as Australian economy is too dependent on China. Market will once again watch liquidity condition in China, as continued tighter condition will have adverse impact on the economy.
While, European data was disappointing after the release of PMI numbers which gave mixed signal. France Europe's second largest economy is not keeping pace with Germany and is constantly struggling. Although, news from Spain is encouraging as the economy escaped recession this time, but consistency in Euro region is key to stability.
Economic data from USA is once again providing mixed signal and recent shutdown event will cause more confusion as economics numbers are expected to deteriorate and may not give true picture. Market is more keen to know about FED's scaling down plan, which should be dominating factor and will be discussed at length/often.
However, today data from across the the globe will be of key relevance, Germany will release IFO, from UK GDP could be trend provider for the British currency and release of notorious Durable good and Michigan Consumer Sentiment Index from USA could drive some trading activity in the market.
GMT 1:28 - GOLD @ $ 1344 = Support $ 1336-38 is the key, which could hold but gold needs to break $ 13348-50 to enter $ 1353-55 zones or else $ 1327.
GMT EURO 1:33 - @ 1.3793 = Euro has a strong barrier around 1.3825-30 only break would encourage for 1.3865. However, I do see risk that failure to break the barrier would challenge 1.3750-60 zone and fall could extend up to 1.3715-20 zones.
GMT 1:39 - GBP @ 1.6194 = Cable needs to surpass 1.6250-60 on break of 1.6230 or else I see risk for correction break of 1.6140 should pave way for test of 1.6050-80 zones.
GMT 1:43 - JPY 97.30 = Japanese currency needs to fall below 97.90 or else a move beyond 97.05 will encourage for test 97.60-70 zones. Break risk for more gains for JPY.
GMT AUD 1:45 - @ 0.9597 = Suspect Aussie could make gains beyond 0.9640-50 zones or else would challenge 0.9680-90. However, key is 0.9540-50 if breaks 0.9510 will be challenged.
DISCLAMER : The commentary/information presented is not intended for trading purpose. The idea is to exchange views with the members/readers. Therefore, I accept no responsibility or liability for any losses incurred due to position taking.
GMT 1:28 - GOLD @ $ 1344 = Support $ 1336-38 is the key, which could hold but gold needs to break $ 13348-50 to enter $ 1353-55 zones or else $ 1327.
ReplyDeleteEURO @ 1.3793 = Euro has a strong barrier around 1.3825-30 only break would encourage for 1.3865. However, I do see risk that failure to break the barrier would challenge 1.3750-60 zone and fall could extend up to 1.3715-20 zones.
ReplyDeleteGBP @ 1.6194 = Cable needs to surpass 1.6250-60 on break of 1.6230 or else I see risk for correction break of 1.6140 should pave way for test of 1.6050-80 zones.
ReplyDelete
ReplyDeleteJPY 97.30 = Japanese currency needs to fall below 97.90 or else a move beyond 97.05 will encourage for test 97.60-70 zones. Break risk for more gains for JPY.
AUD @ 0.9597 = Suspect Aussie could make gains beyond 0.9640-50 zones or else would challenge 0.9680-90. However, key is 0.9540-50 if breaks 0.9510 will be challenged.
ReplyDeleteHi there,
ReplyDeleteis there any chance to sell Gold now
rj, Gold @ $ 1340.50 = I would prefer to buy at the lower end of $ 1338-40. Stops $ 1335....................
ReplyDeleteGBP @ 1.6196 = So far we are witnessing perfect move and the fall is line of my call. I would suggest taking profit around 1.6170-80..............
ReplyDeletesorry for the foolish question but in long term do u see now gold above 2000 dollar in 2014
ReplyDeleteBuy around $ 800-900 levels, then you can wait for $ 2000 ;-)
ReplyDeleteEuro have tested highs.........
ReplyDeletesir what abt gbp after gdp data!!
ReplyDeleteHi sir
ReplyDeleteI liked your reply about GOLD buy @ 800-900. We may see the price when tapering will start or Completely finished.
"Watch Out" - GOLD @ $ 1342 = - Looking naughty as holding below $ 1345, could dip towards $ 1335-38
ReplyDeleteManish/Moeen
ReplyDeleteFED eased its monetary policy about 6-years ago and its recent injection of $ 85 billion per month means annual injection of $ 1.02 Trillion. Estimates are that printing may have reached or is close to $ 3 trillion. Where has all the money disappeared ? All the money is spent to plug holes or is used for for window dressing purpose and is not used to create new business openings.
Nothing will change, US cannot hike interest rates aggressively or financing deficit will become curse because of funding scarcity. Recent showdown is a good example. This is why when you hear of tapering noise, gold is ready to shit in its pants.
Basically, its all paper money game ruled by the hedge funds and large financial institutions. Imagine buying Gold at $ 3000 at 5 pct interest rate and holding it for 2-years.
Yes, you will see excessive volatility in gold, after every $ 100- $200 move, gold will make either way swing. My call is down move, as tapering cannot go on for ever.
brought Gold at 1337.50 Sl 1325 is that ok
ReplyDeleteits time to book profit around $ 1335-37, if earlier buying position has been flipped...............
ReplyDeleteThis looks OK, but its not worth enering now...................
GBP @ 1.6170 = book your profit....................Cheers
ReplyDelete1.3782= Book your profit around 1.3775-82.Cheers...................
ReplyDeleteGOLD @ $ 1345 = boom your profit around $ 1345-47...........
ReplyDeleteGOLD @ $ 1344 = Prefer to pick top and Sell around $ 1346-48 levels. crucial to watch is $ 1352-54............
ReplyDeletesir liight went off i couldnt book profit euro .1.3790 should clear or wait ?
ReplyDeleteWell, i am expecting Euro hold below 1.3795-00 levels for another test of 1.3760-70 zones or else 1.3825-35..........................
ReplyDeleteafter data view remain same about euro ?
ReplyDeletesold gold at 1346 sl 1352..is that ok
ReplyDeleteGold looking good to tset $ 1350-53 levels............
ReplyDeleteGOLD @ $ 1346 = watch $ 1342-44, if holds $ 1350-52 or else $ 1335-37............
ReplyDeleteOk pals, end of another perfect week.
ReplyDeleteHave a nice weekend...................
Thank you
ReplyDeleteCheers
ReplyDelete