Friday, 30 January 2015

Update on Bullion, Base metal and Energy










As expected... Gold and Silver crashed vertically. Hope you all enjoyed a lot






Have a look on it!!






Gold


Below 26730... our target was 27620---27550 and then to 27400. Yesterday made a low of 27382

Now what to expect???

Gold (Apr) Support at $1251 INR 27380 and Resistance at $1272 INR 27720

Weekly close below $1250 INR 27380 will see sharp panic till $1220---$1185 INR 26900---26600 mark

Any sharp rise will be selling opportunity but trade with levels only



Silver


Told to sell Silver around 39150 with stop loss of 39800. It crashed vertically and made a low of 37166 mark

Now what to expect???

Support at $16.70 INR 37150 and Resistance at $17.20 INR 37900--38400

Weekly Close below $16.70 INR 37150 will see sharp downside move till $15.80---$15.50 INR 35600---34800 mark

Any sharp rise will be selling opportunity but trade with levels only


Copper


Support at 332 and Resistance at 340

Two consecutive closes below 332 will see free fall in Copper till 324---318 mark in days to come

Revise stop loss of 340



Crude oil



Support at 2720--2650 and Resistance at 2820---2880

Trade in a range with levels only and wait for conformation. Anything seems will update via SMS


Natural Gas


Yesterday... we recommended buying in Natural gas around 177. It made a high of 181 but unable to breach the resistance level of 183 and crashed vertically

Below 172... target intact 162---155. On rise sell it. 

Stop loss above 173





























More will update soon...

Currency View for 30 January 2015 - Fluctuation will expect ahead of Europe CPI and U.S. GDP data








Dollar/Rupee

Dollar/rupee ended near two-week high Thursday on buying by mostly state-run banks on behalf of oil importers coupled with strong dollar following hawkish statement by US Federal Reserve after 2-day FOMC meet.

Technical Review

After hitting a low of 61.7350, USDINR saw a bounce back towards 62.1975 and settled with a gain of 0.82%.
Near term resistance is seen at 62.35 sustain trade above only will expect to test 62.50-62.70 levels else correction will expect towards 61.80-61.60 from 62.15-62.20 levels CMP 62.0750 levels.

However, at this point of time should wait for the fresh entry as volatility could expect ahead of Europe CPI and U.S GDP data


EURINR

After hitting a low of 69.5750, EURINR R saw a bounce back towards 70.3750 and settled with a gain of 0.39%. A long bullish candle stick formation on EOD chart is indicating for pullback.

Near term resistance is seen at 70.50 sustain trade above only will expect to test 70.72-71.00 levels else correction will expect towards 69.50-69.20 from 70.30-70.35 levels CMP 70.3350 levels.

CPI flash estimate of Europe scheduled at 3.30 PM will decide near term trend for the Euro.


GBPINR

After hitting a low of 93.3350, GBPINR R saw a bounce back towards 94.09 levels and settled with a gain of 0.33%. A long bullish candle stick formation on EOD chart is indicating for pullback.

Near term resistance is seen at 94.15 sustain trade above only will expect to test 94.40-94.80 levels else correction will expect towards 93.60-93.20 from 94.00 levels CMP 93.580 levels.



JPYINR

JPYINR settled with a gain of 0.83% at 52.7950 levels.  Near term resistance is seen at 52.85 sustain trade above only will expect to test 53.00-53.20 levels else correction will expect towards 52.30-52.00 from 52.60-52.70 levels CMP 52.5775 levels.






Major Economic Data & Events Schedule today 



Time
Currency
Economic Indicators
Forecast
Previous
Possible Impact
10:30am
JPY
Housing Starts y/y
-14.60%
-14.30%
Negative
12:30pm
EUR
German Retail Sales m/m
0.40%
1.00%
Negative
1:15pm
EUR
French Consumer Spending m/m
0.30%
0.40%
Negative
1:30pm
EUR
Spanish Flash CPI y/y
-1.50%
-1.10%
Negative

EUR
Spanish Flash GDP q/q
0.50%
0.50%
Neutral
2:30pm
EUR
Italian Monthly Unemployment Rate
13.50%
13.40%
Positive
3:00pm
GBP
Net Lending to Individuals m/m
3.2B
3.3B
Negative

GBP
M4 Money Supply m/m
0.50%
0.00%
Positive

GBP
Mortgage Approvals
60K
59K
Positive
3:30pm
EUR
CPI Flash Estimate y/y
-0.50%
-0.20%
Negative

EUR
Core CPI Flash Estimate y/y
0.60%
0.70%
Negative

EUR
Unemployment Rate
11.50%
11.50%
Neutral
7:00pm
USD
Advance GDP q/q
3.00%
5.00%
Negative

USD
Advance GDP Price Index q/q
0.90%
1.40%
Negative

USD
Employment Cost Index q/q
0.60%
0.70%
Negative
8:15pm
USD
Chicago PMI
57.70
58.30
Negative
8:30pm
USD
Revised UoM Consumer Sentiment
98.50
98.20
Positive
                                                   
Impact: High Low Medium
 







More will Update soon...