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Ikon Markets Daily Forex Analysis (January 2013)

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Ikon Markets Daily Forex Analysis (January 2013)

Postby Ajawed » Wed Jan 02, 2013 10:34 am

January 2,2013

Gold (spot) closed up on Monday, made its intraday high of US$1680.50/ ounce after setting intraday low of US$1655.45/ounce. Gold went up by 1.168% at US$1,674.95/ounce.

Technicals in Focus:

In daily charts, prices are sustaining below 200DMA (1661) 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 oversold region and indicating to buy. The Stochastic Oscillator has entered in oversold territory and gave positive crossover to confirm bullish stance.


Strength above 1666 enabled a move to around 1681 on Monday. We maintain a neutral stance at present awaiting clear signals to comment on the near-term direction. In immediate-term, XAU’s inability to overcome 1681 can produce an adjustment towards 1669.3 and 1661.1. On the upside, break above 1681 may call for 1691 – 1696. Today, sell with risk above 1681, targeting 1669 and 1661 / Buy on break above 1681 for 1691 – 1696.

To get analysis on Silver , Oil, EUR, GBP & USD visit: http://www.ikonmarkets.com/daily-reports/2013/01/02/
Attachments
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Graphical Analysis
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Ajawed
 
Posts: 352
Joined: Tue Dec 11, 2012 10:40 am

Re: Ikon Markets Daily Forex Analysis (January 2013)

Postby Ajawed » Fri Jan 04, 2013 11:00 am

January 4,2013

Gold (spot) closed down on Thursday, made its intraday low of US$1660.85/ ounce after setting intraday high of US$1690.00/ounce. Gold went down by 0.1334% at US$1,663.90/ounce.

Silver (spot) closed down on Thursday made its intraday low of US$29.99/ ounce after setting intraday high of US$31.19/ounce. Silver settled 2.76% down at US$31.05/ounce.

Crude futures (February 2012) on Thursday made an intra‐day high of US$93.27/bbl and made an intraday low of US$92.46/bbl and settled down by 0.086% at US$92.79/bbl on session close.

EUR/USD on Thursday made an intra‐day low of US$ 1.3046/EUR and made an intraday high of US$1.3190/EUR and settled the day 1.061% down at US$1.3048/EUR on session close.

GBP/USD on Thursday made an intra‐day low of US$1.6091/GBP and made an intraday high of US$1.6255/GBP and settled the day down by 0.910% at US$1.6105/GBP on session close.

USD/JPY on Thursday an intra‐day low of JPY86.77/USD and made an intraday high of JPY 87.35/USD and settled the day 0.103% down at JPY87.24/USD on session close.

To get Technical Analysis visit: http://www.ikonmarkets.com/daily-reports/2013/01/04/
Ajawed
 
Posts: 352
Joined: Tue Dec 11, 2012 10:40 am

Re: Ikon Markets Daily Forex Analysis (January 2013)

Postby Ajawed » Mon Jan 07, 2013 10:42 am

January 7, 2013

Silver (spot) closed up on Friday made its intraday low of US$29.22/ ounce after setting intraday high of US$30.28/ounce. Silver settled 0.265% up at US$30.23/ounce.

Technical in Focus:

IIn daily charts, silver is sustaining below 200DMA (30.70), breakage above 30.70 will lead to 31.05-31.50. MACD is now below the zero line and histogram are also in decreasing mode will bring bearish stance in the upcoming sessions. RSI is entering in oversold region and is indicating bullish stance. The Stochastic Oscillator entered into neutral territory but giving negative crossover to confirm bearish stance for today.


Post completion of the 38.2% retracement of XAG's decline from 34.38 to 29.62 at 31.44, we continue to aim for 27.88 – 26.77 area. Friday's pullback from 29.23 is expected to neutralize at 30.62 – 30.79 resistance area. Today, short on strength towards 30.62 – 30.79, with a closing risk above 31.02.


To get analysis on Gold, Oil, EUR, GBP & USD visit: http://www.ikonmarkets.com/daily-reports/2013/01/07/
Attachments
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Ajawed
 
Posts: 352
Joined: Tue Dec 11, 2012 10:40 am


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