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Daily Forex Analysis By IKON MARKETS For The Month Of Decemb

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Daily Forex Analysis By IKON MARKETS For The Month Of Decemb

Postby Ajawed » Tue Dec 11, 2012 10:42 am

December 11, 2012

Gold (spot) up on Monday made its intraday high of US$1717.20/ ounce after setting intraday low of US$1702.70/ounce. Gold settled up by 0.469% at US$1711.40/ounce.

Technicals in Focus:
In daily charts, prices are sustaining below 50DMA (1730) level become immediate resistance level for gold. MACD is now below zero line and histogram are also in decreasing mode will bring more bearish stance in the upcoming sessions. RSI is in neutral approaching overbought region but still indicating to buy. The Stochastic Oscillator has entered in oversold territory and also gave positive crossover to confirm bullish stance.

Recover through 1707.33 faced supply around 1717 yesterday. The near-term theme remains negative below the last reaction high of 1754.46. Next levels to aim below 1692.77 would be 1678.21 and 1660.19. Overall focus is set at 1631. Nearby resistance level resides around 1725.84. Sell in 1717.57 – 1725.84, with risk above 1754.46.

To get Technical analysis of Silver, Oil, EUR, GBP & USD visit: http://ikonmarkets.com/daily-reports/2012/12/11/
Ajawed
 
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Re: Daily Forex Analysis By IKON MARKETS For The Month Of De

Postby Ajawed » Mon Dec 17, 2012 11:34 am

December 17, 2012

Gold
(spot) down on Friday made its intraday high of US$1700.4/ ounce after setting intraday low of US$1693.2/ounce. Gold settled down by 0.053% at US$1,695.7/ounce.

Silver (spot) closed down on Friday made its intraday high of US$32.73/ ounce after setting intraday low of US$32.18/ounce. Silver settled 0.921% below at US$32.26/ounce.

Crude futures (January 2012) on Friday made an intra‐day high of US$86.88/bbl and made an intraday low of US$86.03/bbl and settled the day down by 0.918% at US$86.84/bbl on session close.

EUR/USD on Friday made an intra‐day low of US$ 1.3065/EUR and made an intraday high of US$1.3171/EUR and settled the day 0.066% above at US$1.3161/EUR on session close.

GBP/USD on Friday made an intra‐day low of US$1.6102/GBP and made an intraday high of US$1.6175/GBP and settled the day up by 0.341% at US$1.6166/GBP on session close.

USD/JPY on Friday an intra‐day low of JPY83.949/USD and made an intraday high of JPY 83.661/USD and settled the day 0.214% below at JPY83.482/USD on session close.

To get technical analysis of Gold, Silver, Oil, EUR, GBP & USD visit: http://www.ikonmarkets.com/daily-reports/2012/12/17/
Ajawed
 
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Re: Daily Forex Analysis By IKON MARKETS For The Month Of De

Postby Ajawed » Tue Dec 18, 2012 10:18 am

December 18’2012

Oil - WTI
Crude futures (January 2012) on Monday made an intra‐day high of US$87.67/bbl and made an intraday low of US$86.46/bbl and settled the day up by 0.702% at US$87.46/bbl on session close.

Technical in Focus:
In daily charts, oil is sustaining below its 100DMA i.e 91.07, which is a very strong resistance and breakage above will lead to 91.70-92.80. MACD is above zero line and histograms are in increasing mode will bring bullish stance in the upcoming sessions. The Stochastic Oscillator is now in neutral territory but signaling to buy as it gave positive crossover for confirmation to bullish stance; while the RSI is in neutral region.

After a recovery from the lower boundary of the short-term flag formation, WTI has retraced 50% of its decline from 90.33 to 85.21 at 87.77. Today, the flag support resides around 85.85, a closing break below here would confirm the bearish continuation signal for 81.03. On a broader spectrum, the technical theme would remain bearish below 93.66 and the 100 and 200 MAs at 90.65 and 92.62 respectively.
Trading Strategy: Neutral to Negative
Today, sell in 87.77 – 88.37 with risk above 88.93 (hourly filters). Internal supports on the downside are placed around 87.33 and 85.93.

To get technical analysis of Gold, Silver, EUR, GBP &USD visit: http://www.ikonmarkets.com/daily-reports/2012/12/18/
Ajawed
 
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Re: Daily Forex Analysis By IKON MARKETS For The Month Of De

Postby ezekiel chew » Wed Dec 19, 2012 9:16 am

XAU/USD WEEKLY
John Murphy Chart Pattern Recognition (CPR) Analysis on 18/12/12
An Ascending Triangle pattern formed indicating a possible trading opportunity. An Ascending Triangle is bullish. It is usually (but not always) preceded by an uptrend. The probabilities favor a continuation of the prevailing trend. An aggressive trader wanting to front-run a confirmed breakout signal may place a buy-stop for entry at 1,765.0874

A big black weekly candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are "high," it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black candles.

An engulfing bearish line occurred (where a black candle's real body completely contains the previous white candle's real body). The engulfing bearish pattern is bearish during an uptrend. It then signifies that the momentum may be shifting from the bulls to the bears.

If the engulfing bearish pattern occurs during a downtrend (which appears to be the case with Gold / US Dollar), it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle's real body.
Attachments
gold-cpr-w.png
Murphy CPR analysis denoted by green bars
gold-cpr-w.png (25.61 KiB) Viewed 233 times
gold-candle-w.png
Candles weekly
gold-candle-w.png (39.67 KiB) Viewed 233 times
Forex Fund Manager Free Forex Trading Strategies
www.asiaforexmentor.com/
ezekiel chew
 
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Re: Daily Forex Analysis By IKON MARKETS For The Month Of De

Postby Ajawed » Wed Dec 19, 2012 11:18 am

December 19, 2012

Gold (spot) closed down on Tuesday, made its intraday high of US$1703.1/ ounce after setting intraday low of US$1660.8/ounce. Gold settled down by 1.24% at US$1,676.0/ounce.

Silver (spot) closed down on Tuesday made its intraday high of US$32.53/ ounce after setting intraday low of US$31.34/ounce. Silver settled 1.51% below at US$31.75/ounce.

Crude futures (January 2012) on Tuesday made an intra‐day high of US$88.14/bbl and made an intraday low of US$87.20/bbl and settled the day up by 0.617% at US$87.97/bbl on session close.

EUR/USD on Tuesday made an intra‐day low of US$ 1.3155/EUR and made an intraday high of US$1.3236/EUR and settled the day 0.516% up at US$1.3227 /EUR on session close.

GBP/USD on Tuesday made an intra‐day low of US$1.6193/GBP and made an intraday high of US$1.6267/GBP and settled the day up by 0.290% at US$1.6248/GBP on session close.

USD/JPY on Tuesday an intra‐day low of JPY84.206/USD and made an intraday high of JPY 84.418/USD and settled the day 0.076% below at JPY0.076%/USD on session close.

To get graphical analysis visit: http://ikonmarkets.com/daily-reports/2012/12/19/
Ajawed
 
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Re: Daily Forex Analysis By IKON MARKETS For The Month Of De

Postby Ajawed » Thu Dec 20, 2012 10:45 am

December 20, 2012

EUR/USD on Wednesday made an intra‐day low of US$ 1.3188/EUR and made an intraday high of US$1.3306/EUR and settled the day 0.113% down at US$1.3212 /EUR on session close.

Technical in Focus:
In daily charts, prices are sustaining above 200DMA (1.2780), which become strong support level, break below will target 1.2545-1.2460. MACD has crossed zero line and now giving a buy signal. Stochastic has entered in neutral territory and also gave negative signal to give bearish outlook for intraday.

The pair rose sharply as expected trading above 113% level of the sideways correction that occurred earlier. The correction level mentioned at 1.3235 levels became good support and might push the pair to 1.3305 resistances at 127.2% correction. The upside move might extend reaching 161.8% at 1.3480. We will ignore any overbought signals on momentum indicators as long as the pair is stable above 1.3160 levels.

Get Graphical Analysis at http://www.ikonmarkets.com/daily-reports/2012/12/20/
Ajawed
 
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Re: Daily Forex Analysis By IKON MARKETS For The Month Of De

Postby Ajawed » Fri Dec 21, 2012 10:54 am

December 21,2012

Gold (spot) closed down on Thursday, made its intraday high of US$1671.7/ ounce after setting intraday low of US$1635.6/ounce. Gold settled down by 1.130% at US$1,648.9/ounce.

Silver (spot) closed down on Thursday made its intraday high of US$31.22/ ounce after setting intraday low of US$29.59/ounce. Silver settled 3.54% below at US$29.96/ounce.

Crude futures (January 2012) on Thursday made an intra‐day high of US$90.51/bbl and made an intraday low of US$89.24/bbl and settled the day up by 0.256% at US$-3.54%/bbl on session close.

EUR/USD on Thursday made an intra‐day low of US$ 1.3202/EUR and made an intraday high of US$1.3293/EUR and settled the day 0.180% up at US$1.3236/EUR on session close.

GBP/USD on Thursday made an intra‐day low of US$1.6242/GBP and made an intraday high of US$1.6294/GBP and settled the day up by 0.129% at US$1.6270/GBP on session close.

USD/JPY on Thursday an intra‐day low of JPY83.847/USD and made an intraday high of JPY 84.440/USD and settled the day 0.235% above at JPY84.418/USD on session close.

To get technical analysis visit: http://www.ikonmarkets.com/daily-reports/2012/12/21/
Ajawed
 
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Re: Daily Forex Analysis By IKON MARKETS For The Month Of De

Postby Ajawed » Mon Dec 24, 2012 10:54 am

December 24,2012

GBP/USD on Friday made an intra‐day low of US$1.6147/GBP and made an intraday high of US$1.6163/GBP and settled the day down by 0.627% at US$1.6147/GBP on session close.

Technical in Focus:
In daily charts, prices are sustaining above 200DMA (1.5890) is become good support level to buy. 14-D RSI is currently in approaching towards overbought region at 55 but still giving buy signal. MACD is now in negative and indicating decreasing histograms; sell stance. The Stochastic Oscillator is in overbought territory and gave for gave negative crossover to confirm bearish stance.


The GBPUSD pair reversed after touching the ceiling of the long term sideways range at 1.6300 level, the reversal was a sharp bearish engulfing candle, however, the selloff didn't violate 1.6150 short term support level, where we may see attempts to resume the bullishness from here; we still prefer to stay aside with the start of the week, awaiting more clues, either through breaking the top of the range, or settling back below 1.6150.

Get Graphical Analysis at http://www.ikonmarkets.com/daily-reports/2012/12/24/
Ajawed
 
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