Ikon Markets Daily Forex Analysis (January 2013)

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/

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/

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/

January 8, 2013

 

Euro rose (+0.4%) as investors placed their bets on the ECB leaving rates unchanged at the first policy meeting of 2013. Meanwhile spot gold (-0.5%) continued to draw mixed signals in the aftermath of the payrolls report & FOMC minutes.

 

To get today’s forex analysis visit: http://www.ikonmarkets.com/daily-reports/2013/01/08/

January 9, 2013

 

Gold (spot) closed up on Tuesday, made its intraday high of US$1662.30/ ounce after setting intraday low of US$1646.85/ounce. Gold went up by 0.75% at US$1,659.25/ounce.

 

Silver (spot) closed up on Tuesday made its intraday high of US$30.38/ ounce after setting intraday low of US$30.07/ounce. Silver settled 0.81% up at US$30.38/ounce.

 

Crude futures (February 2012) on Tuesday made an intra‐day high of US$93.80/bbl and made an intraday low of US$92.67/bbl and settled down by 0.04% at US$93.15/bbl on session close.

 

EUR/USD on Tuesday made an intra‐day low of US$ 1.3053/EUR and made an intraday high of US$1.3199/EUR and settled the day 0.26% down at US$1.31080/EUR on session close.

 

GBP/USD on Tuesday made an intra‐day low of US$1.6028/GBP and made an intraday high of US$1.6128/GBP and settled the day down by 0.366% at US$1.6054/GBP on session close.

 

USD/JPY on Tuesday an intra‐day low of JPY86.89/USD and made an intraday high of JPY 87.83/USD and settled the day 0.831% down at JPY87.05/USD on session close.

 

To Get Technical And Graphical Analysis Visit: http://www.ikonmarkets.com/daily-reports/2013/01/09/

January 10, 2013

 

Crude futures (February 2012) on Wednesday made an intra‐day high of US$93.62/bbl and made an intraday low of US$92.66/bbl and settled up by 0.107% at US$93.21/bbl on session close.

 

Technical in Focus:

 

In daily charts, oil is sustaining below its 100DMA i.e 91.07, which is a very strong resistance and breakage above will lead to 91.70-92.80. MACD is above zero line and histograms are in increasing mode will bring bullish stance in the upcoming sessions. The Stochastic Oscillator is now in neutral territory but signaling to buy as it gave positive crossover for confirmation to bullish stance; while the RSI is in neutral region.

 

 

We prefer to stick to a restrictive stance at present. It would require a decisive break above the trend line resistance at 94.50 to shift our outlook to a neutral stance. In the near-term, a break above the trend line (94.50) would clear the way to challenge Sep'12 high around 99 – 100.42. On the downside, selling forces would gain control on break below 90.61 for 85.90. Today, failure to overcome 93.57 – 93.80 area can invoke weakness toward 92.66 – 92.60 and 91.87.

 

To get analysis on Gold, Silver, EUR, GBP & USD visit: http://ikonmarkets.com/daily-reports/2013/01/10/

January 11, 2013

 

Gold (spot) closed up on Thursday, made its intraday high of US$1678.81/ ounce after setting intraday low of US$1654.05/ounce. Gold went up by 1.07% at US$1,654.05/ounce.

 

Silver (spot) closed up on Thursday made its intraday high of US$30.94/ ounce after setting intraday low of US$30.26/ounce. Silver settled 1.61% up at US$30.86/ounce.

 

Crude futures (February 2012) on Thursday made an intra‐day high of US$94.70/bbl and made an intraday low of US$93.08/bbl and settled up by 0.77% at US$93.82/bbl on session close.

 

EUR/USD on Thursday made an intra‐day low of US$ 1.3038/EUR and made an intraday high of US$1.3273/EUR and settled the day 1.584% up at US$1.3271/EUR on session close.

 

GBP/USD on Thursday made an intra‐day low of US$1.6002/GBP and made an intraday high of US$1.6167/GBP and settled the day up by 0.898% at US$1.6165/GBP on session close.

 

USD/JPY on Thursday an intra‐day low of JPY87.85/USD and made an intraday high of JPY 88.79/USD and settled the day 1.047% up at JPY88.78/USD on session close.

 

To get technical and graphical analysis visit: http://ikonmarkets.com/daily-reports/2013/01/11/

What a great information here ,but if you want i can write everything too in the end of the day,so i can save you some time writing all this b.s

January 16, 2013

 

 

EUR/USD on Tuesday made an intra‐day low of US$ 1.3263/EUR and made an intraday high of US$1.3393/EUR and settled the day 0.560% down at US$1.3305/EUR on session close.

 

Technical in Focus:

In daily charts, prices are sustaining above 200DMA (1.2780), which become strong support level, break below will target 1.2545-1.2460. MACD has crossed zero line and now giving a buy signal. Stochastic has entered in overbought territory but giving positive signal to give bullish outlook for intraday.

 

The pair is trading below 1.3310 levels, and it's possible to see a deeper downside correction, yet the general bullish move remains valid and didn't confirm its end. Stochastic offers negative crossover supporting the possible negativity during today's session. Breaching 1.3360 levels weakens the bearish correction.

 

 

To get analysis on Gold, Silver, Oil, GBP & USD visit: http://www.ikonmarkets.com/daily-reports/2013/01/16/

January 17, 2013

 

Gold (spot) closed up on Wednesday, made its intraday high of US$1684.89/ ounce after setting intraday low of US$1673.750/ounce. Gold went up by 0.03% at US$1,673.75/ounce.

 

Silver (spot) closed up on Wednesday made its intraday high of US$31.56/ ounce after setting intraday low of US$31.10/ounce. Silver settled 0.31% up at US$31.48/ounce.

 

Crude futures (February 2012) on Wednesday made an intra‐day high of US$94.36/bbl and made an intraday low of US$93.10/bbl and settled down by 1.03.% at US$94.24/bbl on session close.

 

EUR/USD on Wednesday made an intra‐day low of US$ 1.3288/EUR and made an intraday high of US$1.3324/EUR and settled the day 0.12% down at US$1.3288/EUR on session close.

 

GBP/USD on Wednesday made an intra‐day low of US$1.5975/GBP and made an intraday high of US$1.6080/GBP and settled the day down by 0.348% at US$1.6005/GBP on session close.

 

USD/JPY on Wednesday an intra‐day low of JPY87.79/USD and made an intraday high of JPY 88.87/USD and settled the day 0.45% down at JPY88.38/USD on session close.

 

To get technical and graphical analysis visit: http://www.ikonmarkets.com/daily-reports/2013/01/17/

January 21, 2013

 

GBP/USD on Friday made an intra‐day low of US$1.5992/GBP and made an intraday high of US$1.6006/GBP and settled the day down by 0.774% at US$1.5873/GBP on session close.

 

Technical in Focus:

 

In daily charts, prices are sustaining above 200DMA (1.5890) is become good support level to buy. 14-D RSI is currently in approaching towards overbought region at 55 but still giving buy signal. MACD is now in negative and indicating decreasing histograms; sell stance. The Stochastic Oscillator is in overbought territory and gave for gave negative crossover to confirm bearish stance.

 

 

The pair dropped sharply benefiting from stability below the key upside support level that turned into a resistance level. The pair neared 1.5825 levels which are considered an important barrier in front of another strong bearish wave. Linear Regression Indicators are showing negativity, and despite that Stochastic is showing oversold signals, we still think that trading below 1.6000 levels is considered negative and might push the pair further to the downside.

 

To get analysis on Gold, Silver, Oil, EUR & USD visit: http://www.ikonmarkets.com/daily-reports/2013/01/21/

January 22, 2013

 

Gold (spot) closed up on Monday, made its intraday high of US$1691.50/ ounce after setting intraday low of US$1685.40/ounce. Gold went up by 0.34% at US$1,690.05/ounce.

 

Silver (spot) closed up on Monday made its intraday high of US$32.11/ ounce after setting intraday low of US$31.87/ounce. Silver settled 0.44% up at US$32.01/ounce.

 

Crude futures (February 2012) on Monday made an intra‐day high of US$95.49/bbl and made an intraday low of US$94.94/bbl and settled up by 0.7% at US$95.56/bbl on session close.

 

EUR/USD on Monday made an intra‐day low of US$ 1.3299/EUR and made an intraday high of US$1.3331/EUR and settled the day 0.015% down at US$1.3312/EUR on session close.

 

GBP/USD on Monday made an intra‐day low of US$1.5804/GBP and made an intraday high of US$1.5893/GBP and settled the day down by 0.110% at US$1.5828/GBP on session close.

 

USD/JPY on Friday an intra‐day low of JPY89.33/USD and made an intraday high of JPY 90.25/USD and settled the day 0.576% down at JPY89.61/USD on session close.

 

To get technical and graphical analysis visit: http://ikonmarkets.com/daily-reports/2013/01/22/

January 23, 2013

Economic Development:

 

While not a very important data point, the soft US Richmond regional Fed survey for January (-12) is receiving some attention as this is the 3rd such reading to fall short (following Philadelphia and Empire) and is raising some worries ahead of the broader January flash PMIs this Thursday. We should see some give-back from the robust year-end economic numbers but cutting through this volatility we still see signs of improved growth conditions.

 

To get today’s news and analysis on Gold, Silver, Oil, EUR, GBP & USD visit: http://www.ikonmarkets.com/daily-reports/2013/01/23/

January 24, 2013

 

Gold (spot) closed on Wednesday, made its intraday high of US$1695.38/ ounce after setting intraday low of US$1683.45/ounce. Gold went down by 0.40% at US$1,685.85/ounce.

 

Silver (spot) closed up on Wednesday made its intraday high of US$32.48/ ounce after setting intraday low of US$32.11/ounce. Silver settled 0.06%up at US$32.26/ounce.

 

Crude futures (March 2013) on Wednesday made an intra‐day high of US$96.92/bbl and made an intraday low of US$94.95/bbl and settled down by 1.05% at US$95.23/bbl on session close.

 

EUR/USD on Wednesday made an intra‐day low of US$ 1.3264/EUR and made an intraday high of US$1.3354/EUR and settled the day 0.025% down at US$1.3317/EUR on session close.

 

GBP/USD on Wednesday made an intra‐day low of US$1.5801/GBP and made an intraday high of US$1.5892/GBP and settled the day up by 0.044% at US$1.5843/GBP on session close.

 

USD/JPY on Wednesday an intra‐day low of JPY88.06/USD and made an intraday high of JPY 88.79/USD and settled the day 0.09% down at JPY88.61/USD on session close.

 

To get technical and graphical analysis visit: http://ikonmarkets.com/daily-reports/2013/01/24/

January 28, 2013

 

USD/JPY on Thursday an intra‐day low of JPY90.29/USD and made an intraday high of JPY 91.19/USD and settled the day 0.563% up at JPY90.90/USD on session close.

 

Technical in Focus:

In daily charts, JPY is sustaining above 200DMA (79.836), which is strong support on the daily chart. MACD is above zero line and histograms are also increasing lead to an upward movement. The Stochastic Oscillator is in overbought territory now and signaling to buy as it has given positive crossover to confirm bullish stance.

 

The pair rose sharply during last week and is close to 91.70 levels which is considered an interval in front of extending the upside move. Momentum indicators offer overbought signals preventing us from being positive, meanwhile we are uncertain whether the referred to barrier will be enough to stop the bearish momentum.

 

Trading Strategy: Neutral

Based on the charts and explanations above, our opinion is selling in 90.50-90.90 targeting 89.00-87.90 and stop-loss with four-hour closing above 91.20. Buying above 89.00-89.55 targeting 89.80-90.20, 90.85 then 91.50 and stop-loss with four-hour closing below 88.80.

 

To get today’s news and analysis on Gold, Silver, Oil, EUR & GBP visit: http://ikonmarkets.com/daily-reports/2013/01/28/

January 29, 2013

 

Gold (spot) closed down on Monday, made its intraday high of US$1,662.44/ ounce before setting intraday low of US$1,652.10/ounce. Gold went down by 0.19% at US$1,655.50/ounce.

 

Silver (spot) closed down on Monday made its intraday high of US$31.32/ ounce after setting intraday low of US$30.74/ounce. Silver settled 1.03% down at US$30.88/ounce.

 

Crude futures (March 2013) on Monday made an intra‐day high of US$96.81/bbl and made an intraday low of US$95.47/bbl and settled up by 0.58% at US$96.44/bbl on session close.

 

EUR/USD on Monday made an intra‐day low of US$ 1.3324/EUR and made an intraday high of US$1.3477/EUR and settled the day 0.074% up at US$1.3455/EUR on session close.

 

GBP/USD on Monday made an intra‐day low of US$1.5674/GBP and made an intraday high of US$1.5785/GBP and settled the day down 0.45% at US$1.5692/GBP on session close.

 

USD/JPY on Friday an intra‐day low of JPY90.56/USD and made an intraday high of JPY 91.26/USD and settled the day 0.816% down at JPY90.86/USD on session close.

 

To get technical and graphical analysis visit: http://ikonmarkets.com/daily-reports/2013/01/29/

January 30, 2013

 

Gold (spot) closed down on Tuesday, made its intraday high of US$1,665.8/ ounce before setting intraday low of US$1,656.7/ounce. Gold went up by 0.435% at US$1,664.1/ounce.

 

Silver (spot) closed down on Tuesday made its intraday high of US$31.46/ ounce after setting intraday low of US$30.91/ounce. Silver settled 1.488% up at US$31.38/ounce.

 

Crude futures (March 2013) on Tuesday made an intra‐day high of US$97.80/bbl and made an intraday low of US$96.28/bbl and settled up by 0.892% at US$97.31/bbl on session close.

 

EUR/USD on Tuesday made an intra‐day low of US$ 1.3413/EUR and made an intraday high of US$1.3495/EUR and settled the day 0.305% up at US$1.3486/EUR on session close.

 

GBP/USD on Tuesday made an intra‐day low of US$1.5690/GBP and made an intraday high of US$1.5771/GBP and settled the day up 0.299% at US$1.5742/GBP on session close.

 

USD/JPY on Tuesday an intra‐day low of JPY90.31/USD and made an intraday high of JPY 91.00/USD and settled the day 0.387% down at JPY90.77/USD on session close.

 

To get technical and graphical analysis visit: http://ikonmarkets.com/daily-reports/2013/01/30/

January 31, 2013

 

Gold (spot) closed up on Wednesday, made its intraday high of US$1,683.25/ ounce before setting intraday low of US$1,662.97/ounce. Gold went up by 0.80% at US$1,677.05/ounce.

 

Silver (spot) closed up on Wednesday made its intraday high of US$32.22/ ounce after setting intraday low of US$31.26/ounce. Silver settled 2.01% up at US$32.04/ounce.

 

Crude futures (March 2013) on Wednesday made an intra‐day high of US$98.24/bbl and made an intraday low of US$97.32/bbl and settled up by 0.38% at US$97.94/bbl on session close.

 

EUR/USD on Wednesday made an intra‐day low of US$ 1.3481/EUR and made an intraday high of US$1.3587/EUR and settled the day 0.57% up at US$1.3566/EUR on session close.

 

GBP/USD on Wednesday made an intra‐day low of US$1.5725/GBP and made an intraday high of US$1.5816/GBP and settled the day up 0.247% at US$1.5797/GBP on session close.

 

USD/JPY on Wednesday an intra‐day low of JPY90.66/USD and made an intraday high of JPY 91.40/USD and settled the day 0.44% down at JPY91.09/USD on session close.

 

To get technical and graphical analysis visit: http://www.ikonmarkets.com/daily-reports/2013/01/31/