Friday, December 27, 2013

Friday, December 27

Asad Rizvi


US Dollar has been trading in tight ranges and may soon find bottom, as US data this week, New Home Sales and Initial Jobless Claims were better than expectation. Volatility could be caused due to year end book adjustment. There is no release of data announcement today. 
Meanwhile, Cable continued its upside trend helped by strong recovery in Housing & Manufacturing Sector. Investors still believe that the UK economy will perform well discarding current strength of Pound Sterling, which may dent exports and tourism. 
Japanese Yen inched up towards 105 levels against US Dollar on believe of stimulus package. However, there are reports of disagreement on issues between BOJ board members and this be good cause of correction for Yen, so short Yen around 105 could be a risky proposition. Furthermore year end correction/repatriation could b another possibility. So watch out.

GMT 2:06 - GOLD @ $ 1210 = Buy Gold on dip around $ 1206-08. Stops $ 1202, Break of $ 214-16 will push it towards $ 1220. Or else $ 1195.
GMT 2:10 - EURO @ 1.3716 = Euro could test 1.3730-40 zones before making a move towards 1.3685, but needs to break for tets of 1.3665-70 zones or else 1.3750-60 before down again.
GMT 2:15 - GBP @ 1.6432 = Cable could creep up towards 1.6450-60 zones before easing to test 1.6410-15 levels. 1.6495 should not surrender. If makes an early dip should be bought around or below 1.6310 with Stops 1.6370.
GMT 2:19 - JPY @ 104.90 = I would still prefer Long JPY around 105 levels with STOP LOSS @ 105.40. Break of 104.55 will encourage to test 104.20 zones.
GMT 2:21 - AUD @ 0.8880 = Should hold below 0.8910 for 0.8850-60 break risks for 0.8840. or else 0.8930.


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.

30 comments:

  1. GMT 2:06 - GOLD @ $ 1210 = Buy Gold on dip around $ 1206-08. Stops $ 1202, Break of $ 214-16 will push it towards $ 1220. Or else $ 1195.

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  2. EURO @ 1.3716 = Euro could test 1.3730-40 zones before making a move towards 1.3685, but needs to break for tets of 1.3665-70 zones or else 1.3750-60 before down again.

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  3. GBP @ 1.6432 = Cable could creep up towards 1.6450-60 zones before easing to test 1.6410-15 levels. 1.6495 should not surrender. If makes an early dip should be bought around or below 1.6310 with Stops 1.6370.

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  4. JPY @ 104.90 = I would still prefer Long JPY around 105 levels with STOP LOSS @ 105.40. Break of 104.55 will encourage to test 104.20 zones.

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  5. AUD @ 0.8880 = Should hold below 0.8910 for 0.8850-60 break risks for 0.8840. or else 0.8930.

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  6. Hello Sir

    Shall i short EURO and AUD at current levels?

    THanks

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  7. EURO @ 1.3738 = Profit taking is suggested around 1.3742-48 and then prefer to go short Euro around 1.3750-60 zones. Stops Loss 1.3790.........

    AUD @ 0.8804 = Could test 0.8920-25 levels............would wait to enter rather making entry around current levels.................

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  8. GOLD @ $ 1214 = Long gold should book profit around $ 1214-16 & Pick Top to Sell......Cheers

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  9. EURO @ 1.3765 = Sell Stop Loss 1.3795...............

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  10. GBP @ 1.6465 = Book your profit an sell around 1.6470-80-............

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  11. AUD @ 0.8918= Sell around 0.8918-25. Stops 0.8955...........

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  12. JPY @ 104.70 = Hold your JPY purchase and apply Stops if your purchase levels is hit......Cheers

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  13. GOLF @ $ 1214.50 = Keep in mind that I have signaled to pick Top to sell Gold which is around $ 1216 +............

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  14. EURO @ 1.3799 = No problem, uncertainty will dominate market. Sell again around 1.3799-10 Stops 1.3835...Do apply Stops.........

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  15. Well, I just want to share that when I give you the entry level e.g,. Sell Euro around 1.3799-10.

    This is because it is difficult for me to interact with you on each and every ticker.

    Therefore the idea is to give you a signal to pick Top or Bottom. Hope it is clear now that why I give you a range to enter.

    Thanks

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  16. GOLD @ $ 1212 = Book your profit around $ 1210-12.............

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  17. GOLD @ $ 1211 = Gold is still a buy below $ 1210 levels. The key to watch is $ 1202 that should hold..........

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  18. Sir

    Cheers on the GOLD short

    Please give us a range to buy GOLD again whenever its a right opportunity

    Thanks

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  19. GOLD @ $ 1211 = Gold could dip to test $ 1205 before up again, if it holds below $ 1214-15 levls...............

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  20. AUD @ 0.8906 = Square Aussie position with small profit around 0.8902-06

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  21. Ok, there is only one position JPY Long around 105, as GBP STOPS was hit at 1.6495, but it was bad day fr rEuro. This is why I don't want to be too aggressive at year end because it is tough to get hold of the market...

    Wait until next call................

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  22. Once again I would like to remind all that do apply Stops.

    I suspect that gold too will make sharp up move, keep a close watch on $ 1202...........

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  23. Gold @ $ 1212.40 = looking gold for $ 1218-20 Should hold $ 1209............

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  24. Could test $ 1222--28 zones...........

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  25. Euro & GBP could make another upside attmept before exhsusting and may see sharp drop...............

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  26. sir holding gold buy for 22 n 28 is it ok sir

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  27. OK pals today you have witnessed choppy market condition and how market behaves in thin market condition that I have been talking since last week. I experience suggest that this is possible if 3 or 4 large banks decides to move the market, it is extremely easy in thin market condition.

    To give you an example one of Senior London trader was carrying combined USD 15 billion overnight position in various products and his $ 10 million overnight P & L moves was something very common. This is about 20-years back imagine market size has grown by almost 3-times.

    This is why I have been very uncomfortable recently and prefer to stay quiet because logic, economic reasoning or analysis do not work in such condition.

    Hope no one was badly hurt today. Do follow your STOPs religiously.

    Have a nice weekend.......................

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  28. manv, please do not hold for long and do book your profit, as market will remain choppy and uncertain due to year end....................

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