Asad Rizvi
US economic data continues to show weaker growth in recent times and the trend is likely to continue for few more weeks as bad weather has hampered economic recovery that may be seen for few more weeks.
However, though Yellen in her testimony spoke about US economic prospects at length, but today market will be watching FED's meeting minutes for more clues, as market will also be focusing on the release of US economic data's for guidance that may not be too supportive for US Dollar for sometime.
GMT 3:03 - GOLD @ $ 1318 = prior of release of FED Minutes, gold could trade in a wide range between $ 1312 - $ 1332, but on a broader picture it is required to break $ 1305 on the downside and $ 1338 on the upside to provide next direction. '
GMT 3:09 - EURO @ 1.3761 = A push beyond 1.3775-80 is required to stretch up to 1.3795-00 zones or else failure would risk for a drop towards 1.3735 or 1.3710.
GMT 3:14 - GBP @ 1.6682 = Looks less impressive and may struggle to move above 1.6710-20 levels for another test of 1.6650, break would risk for a test of 1.6510-20 zones. Or else 1.6750.
GMT 3:17 - JPY @ 102.24 = JPY is still locked in a range and needs to break
101.80-90 zones for 101,60 or else would find support around 102.50-60.
GMT 3:20 - AUD @ 0.9006 = Aussie has stiff resistance around 0.9030-50 zones and may slip towards 0.8970-75 zones.
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 3:03 - GOLD @ $ 1318 = prior of release of FED Minutes, gold could trade in a wide range between $ 1312 - $ 1332, but on a broader picture it is required to break $ 1305 on the downside and $ 1338 on the upside to provide next direction.
ReplyDeleteEURO @ 1.3761 = A push beyond 1.3775-80 is required to stretch up to 1.3795-00 zones or else failure would risk for a drop towards 1.3735 or 1.3710.
ReplyDeleteGBP @ 1.6682 = Looks less impressive and may struggle to move above 1.6710-20 levels for another test of 1.6650, break would risk for a test of 1.6510-20 zones. Or else 1.6750.
ReplyDeleteJPY @ 102.24 = JPY is still locked in a range and needs to break 101.80-90 zones for 101,60 or else would find support around 102.50-60.
ReplyDeleteAUD @ 0.9006 = Aussie has stiff resistance around 0.9030-50 zones and may slip towards 0.8970-5 zones.
ReplyDeleteview on gbp ?
ReplyDeleteafter data view on gbp?
ReplyDeleteNo change in view, take profit on dip around 1.6670-80.....If youwent short around 1.6710-20.........
ReplyDeleteGold can buy now as us open after 1hour
ReplyDeleteGOLD @ $ 1318 = there is a risk that if $ 1322-24 holds, gold could dip below $ 1310..........
ReplyDeletesir i went short euro at 37.60 where should clear position?
ReplyDeleterange 1.3720 - 80 before data........
ReplyDeleteGold to test $ 1325-27 - Gbp 1.6710 & Euro 1.3775
ReplyDeleteafter data view on euro?
ReplyDeleteOk pals, cheers until tomorrow..................
ReplyDelete