FROM: PETER CRUZ DATE: 26th June, 2013 – Wed. Market Brief Beware the Gold, looking very bearish, could very easily drop below the $1,200 per oz. in the next few weeks or maybe the next few days. The USD rose slightly amid new signs the US housing recovery is gaining steam, supporting the view that the economy is strong enough for the Fed to begin winding down its monetary stimulus later this year, We had a bit of positive news economically, and the market is a bit more dollar-bullish. US stocks rallied, recovering some of their recent losses as investors were cheered by good economic news and shrugged off an increase in yields on government debt. Crude-oil futures settled slightly higher as traders await weekly government data that is expected to show a decline in domestic stockpiles. Gold futures extended recent losses as a string of stronger US economic data bolstered equities and dampened interest in safe-have assets such as precious metals. On the data slate there’s Switzerland UBS Consumption Indicator; German GfK Consumer Confidence Survey; BOE Financial Stability Report; UK CBI Reported Sales; US MBA Mortgage Applications; US GDP; US Core Personal Consumption; US Personal Consumption and DOE US Crude Oil Inventories. SELL EUR @ 1.3080 OR BETTER – STOP @ 1.3145 – TARGET @ 1.2965 SELL GBP @ 1.5420 OR BETTER – STOP @1.5495 – TARGET @ 1.5265 BUY USD/JPY @ 97.60 OR BETTER – STOP @ 97.00– TARGET @ 100.10 – no change SELL CL0813 @ 94.90 OR BETTER – STOP @ 95.65 - TARGET @ 92.80 SELL XAU @ 1265 OR BETTER – STOP @ 1380 – TARGET @ 1235 SELL XAG @ 19.30 OR BETTER – STOP @ 20.00 – TARGET @ 18.10 GOOD LUCK AND HAPPY TRADING PLS. NOTE: 1. ALWAYS REMEMBER TO PUT STOPS WHENEVER YOU TRADE, MARKETS ARE VERY VOLATILE. 2. THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY PROMISES OR GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS AND IT IS NOT FOR EVERYONE.
Posted on: Wed, 26 Jun 2013 02:41:14 +0000
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