FROM: PETER CRUZ DATE: 29th August, 2014 – Fri. Market Brief Investors “continue to need caution about downside risk of the EUR/USD,” given increasingly clear gap between economic fundamentals in euro-zone and the US, says IG Securities market analyst Junichi Ishikawa. A combination of possible weakness in euro-zone inflation data later today, followed by brisk US data, such as personal income and outlays, could help bring the EUR/USD down below its support line of 1.3150 and 1.3104 (set on September 6, 2013) comes in sight. There is short-covering of the EUR/USD sporadically but upside is limited now. On the data slate there’s Switzerland Leading Indicator; Switzerland Unemployment Rate; Euro-Zone Unemployment Rate; Euro-Zone CPI Estimate; Euro-Zone CPI Core; US Personal Income; US Personal Spending; US Personal Consumption Expenditure; US Chicago Purchasing Manager and US U. of Michigan Confidence. SELL EUR @ 1.3180 OR BETTER - STOP @ 1.3235 – TARGET @ 1.3105 SELL GBP @ 1.6580 OR BETTER – STOP @1.6635 - TARGET @ 1.6430 – no change BUY USD/JPY @ 103.75 OR BETTER – STOP @ 103.30– TARGET @ 105.00 – no change SELL CL1014 @ 94.70 OR BETTER – STOP @ 95.20 - TARGET @ 93.65 SELL XAU @ 1290 OR BETTER – STOP @ 1298 - TARGET @ 1270 SELL XAG @ 19.52 OR BETTER – STOP @19.80 – TARGET @ 18.80 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: Fri, 29 Aug 2014 04:18:33 +0000