2:18 PM
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GOLD
Gold prices were
affected negatively with the Fed’s LMCI (Labor Market Conditions
Index)rising to 2.9 points in December.Gold markets had an inside day
with the high being lower than prior days high and Low being higher
than previous days low which is a signal of prevalent indecisiveness
in the market. We have a support in the
vicinity of the 10-day Moving Average at 1,080 and a Resistance at
1113 level.The MACD(Moving Average Convergence Divergence) is giving
a positive Momentum. 3 Days Trial of live Signals
SILVER
Silver markets
spent the Monday session in a volatile mood,
mainly due to the associated effects of the $14 level. At this point,
there is a possibility that we can rally from here. It appears we
have sufficient selling pressure to prevent the market from
falling.Capitalizing on that, we are currently looking to take
advantage of signs of exhaustion in short term rallies. Consequently
we are short term sellers.
Crude Oil
Crude Oil is
currently diving to the depth reaching lows of $30.88 i.e.nearly 7%
down.At present, it seems that the down
trend that occurred till now might continue
in the short term. With the crude oil inventories at 80-year high;
demand seems to be taking the beating. The MACD(Moving Average
Convergence Divergence) indicator is giving the momentum to be
negative;hence signaling short positions.
GBPUSD
The GBP/USD made an
attempt to rally during the Monday session; however,
it turned back and formed a shooting star instead. The
shooting star candle happens to be located
immediately above the 1.45 level,hence we are refraining from short
position at the moment. We will see a spurt in selling as we breach
below the 1.45 level and that is what is keeping us on our toes.
On the other hand, any move upwards and we would
like to have a confirmation signal before we make any decision .
EURUSD
The EUR/USD
pair had a hard time on Monday, falling initially
on Monday and later taking a U-turn to rally at the time of market
close. At present, it seems that it is going to be volatile in short
term with majority movement being sideways. The
present level of volatility in this market is not to be taken chance
with and hence we are currently sitting on the sidelines.
AUDUSD
The AUD/USD on
Monday formed a shooting star after an attempt to rally. The
negativity of the shooting star is making us feel
that the market might breakdown and that too significantly. At the
moment, we are in the position to sell short term rallies due to the
minor support that we see below. In the present market, long
positions are not to be touched.
USDJPY
The USD/JPY on
Monday closed with a shooting star after a failed attempt to rally.
The move was a reflection to some degree of US stock markets which
the pair is known to follow.the initial rally that we referred
earlier was lost due to the sellers that stepped in later and took
the market lower. Shooting star that we saw is a signal that the
market is going to breakdown and if that happens, we might revisit
the116 level.
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